Also called: Financial Aid Advisor, Financial Aid Counselor, Financial Aid Director, Financial Aid Officer
Produced by CareerOneStop
Video transcript: skip transcript
Many people dream of buying a house... or going to college... but these plans, and many others, cost more money than most people have. That's where credit and loan counselors and officers come in -they help people find the best ways to borrow the money they need. Loan officers meet with people applying for loans. They examine applicants' financial records and determine just how much money they may be able to borrow. Some people have financial problems that can make it difficult for them to borrow using traditional options... loan counselors search for alternatives. Once they've found an appropriate loan, counselors explain what financial regulations are involved. Credit counselors help customers resolve financial issues, from creating a plan to pay off debt, to finding a financial aid program for college. Financial matters can be tedious and frustrating to handle, so a steady demeanor is helpful. This work requires the ability to listen carefully and explain complicated issues simply. Credit and loan officers and counselors work in banks, higher education, and in mortgage firms. In addition to math skills, they must be detail-oriented to accurately complete loan documents. These professionals usually have a degree in finance or economics. If you like helping people and you're good with numbers, your skills could lend themselves to a career as a credit professional.
What they do:Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
On the job, you would:
- Maintain current knowledge of credit regulations.
- Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
- Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.
Math and Science
- arithmetic, algebra, geometry, calculus, or statistics
Arts and Humanities
- English language
- customer service
- administrative services
Engineering and Technology
- computers and electronics
- listening to others, not interrupting, and asking good questions
- reading work related information
- understanding people's reactions
- looking for ways to help people
People and Technology Systems
- thinking about the pros and cons of different options and picking the best one
- figuring out how a system should work and how changes in the future will affect it
- listen and understand what people say
- read and understand what is written
Ideas and Logic
- use rules to solve problems
- make general rules or come up with answers from lots of detailed information
- choose the right type of math to solve a problem
- add, subtract, multiply, or divide
- quickly compare groups of letters, numbers, pictures, or other things
People interested in this work like activities that include leading, making decisions, and business.
They do well at jobs that need:
- Attention to Detail
- Self Control
- Concern for Others
You might use software like this on the job:
Data base user interface and query software
- ELM Resources ELM
Internet browser software
- Microsoft Internet Explorer
- Web browser software