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Collection team lead vs student loan collector

The differences between collection team leads and student loan collectors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a collection team lead and a student loan collector. Additionally, a collection team lead has an average salary of $68,868, which is higher than the $35,477 average annual salary of a student loan collector.

The top three skills for a collection team lead include customer service, credit card and delinquent accounts. The most important skills for a student loan collector are student loan accounts, customer service, and delinquent accounts.

Collection team lead vs student loan collector overview

Collection Team LeadStudent Loan Collector
Yearly salary$68,868$35,477
Hourly rate$33.11$17.06
Growth rate-8%-8%
Number of jobs29,38625,976
Job satisfaction--
Most common degreeBachelor's Degree, 45%Bachelor's Degree, 42%
Average age4646
Years of experience1212

Collection team lead vs student loan collector salary

Collection team leads and student loan collectors have different pay scales, as shown below.

Collection Team LeadStudent Loan Collector
Average salary$68,868$35,477
Salary rangeBetween $48,000 And $98,000Between $26,000 And $47,000
Highest paying City--
Highest paying state--
Best paying company--
Best paying industry--

Differences between collection team lead and student loan collector education

There are a few differences between a collection team lead and a student loan collector in terms of educational background:

Collection Team LeadStudent Loan Collector
Most common degreeBachelor's Degree, 45%Bachelor's Degree, 42%
Most common majorBusinessBusiness
Most common college--

Collection team lead vs student loan collector demographics

Here are the differences between collection team leads' and student loan collectors' demographics:

Collection Team LeadStudent Loan Collector
Average age4646
Gender ratioMale, 42.9% Female, 57.1%Male, 41.2% Female, 58.8%
Race ratioBlack or African American, 13.0% Unknown, 4.0% Hispanic or Latino, 18.9% Asian, 3.6% White, 59.9% American Indian and Alaska Native, 0.5%Black or African American, 11.8% Unknown, 4.0% Hispanic or Latino, 18.4% Asian, 3.6% White, 61.7% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between collection team lead and student loan collector duties and responsibilities

Collection team lead example responsibilities.

  • Manage re-billings for third party accounts including: commercial carriers, manage care, PPO, POS and HMO organizations.
  • Receive and distribute ACH forms receive form all lots.
  • Assist consumers in money and behavior managements and ensures HIPAA compliance
  • Collect monies from Medicaid, Medicare, VA and various other third party payers.
  • Perform insurance follow up on account receivables of Medicare, Medicaid and private health insurance claims to expedite claim reimbursement.
  • Negotiate payments resolutions for delinquent customers to become current while using professionalism, and adhering to all applicable FDCPA collection laws.
  • Show more

Student loan collector example responsibilities.

  • Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
  • Provide effective and timely resolution whilst strictly adhering to the FDCPA regulations and policies.
  • Supervise a group of 12 collectors and ensuring that FDCPA rules and regulations are followed.
  • Maintain existing customer base by building strong relationships that includes contract negotiation and customer issue resolution.
  • Research patient account information and make contact with insurance carriers to determine patient eligibility for Medicare benefits.
  • Secure modification documents including HAMP and bank require documents.

Collection team lead vs student loan collector skills

Common collection team lead skills
  • Customer Service, 14%
  • Credit Card, 7%
  • Delinquent Accounts, 6%
  • Payment Arrangements, 6%
  • FDCPA, 4%
  • Debt Repayment, 4%
Common student loan collector skills
  • Student Loan Accounts, 16%
  • Customer Service, 9%
  • Delinquent Accounts, 7%
  • FDCPA, 5%
  • State Laws, 4%
  • Payment Arrangements, 4%

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