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Debt collector vs student loan collector

The differences between debt collectors 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 debt collector and a student loan collector. Additionally, a student loan collector has an average salary of $35,477, which is higher than the $33,865 average annual salary of a debt collector.

The top three skills for a debt collector include customer service, outbound calls and payment arrangements. The most important skills for a student loan collector are student loan accounts, customer service, and delinquent accounts.

Debt collector vs student loan collector overview

Debt CollectorStudent Loan Collector
Yearly salary$33,865$35,477
Hourly rate$16.28$17.06
Growth rate-8%-8%
Number of jobs23,38525,976
Job satisfaction--
Most common degreeHigh School Diploma, 34%Bachelor's Degree, 42%
Average age4646
Years of experience1212

Debt collector vs student loan collector salary

Debt collectors and student loan collectors have different pay scales, as shown below.

Debt CollectorStudent Loan Collector
Average salary$33,865$35,477
Salary rangeBetween $26,000 And $43,000Between $26,000 And $47,000
Highest paying CitySan Francisco, CA-
Highest paying stateCalifornia-
Best paying companyMayor Ethan Berkowitz-
Best paying industryConstruction-

Differences between debt collector and student loan collector education

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

Debt CollectorStudent Loan Collector
Most common degreeHigh School Diploma, 34%Bachelor's Degree, 42%
Most common majorBusinessBusiness
Most common college--

Debt collector vs student loan collector demographics

Here are the differences between debt collectors' and student loan collectors' demographics:

Debt CollectorStudent Loan Collector
Average age4646
Gender ratioMale, 30.7% Female, 69.3%Male, 41.2% Female, 58.8%
Race ratioBlack or African American, 12.2% Unknown, 4.0% Hispanic or Latino, 20.0% Asian, 3.4% 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 debt collector and student loan collector duties and responsibilities

Debt collector example responsibilities.

  • Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
  • Work with FHA, obama programs at the time.
  • Educate customers on ways to get medical assistance such as Medicaid, Medicare etc.
  • Prevent foreclosure by putting people on repayment plans, submitting requests for modifications, or deed in lieu.
  • File Medicaid, Medicare and commercial claims consisting of PPO discounts, nurse practitioner discounts, humanitarian discounts, etc.
  • Maintain security and confidentiality of company and client information, following FDCPA regulations.
  • 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.

Debt collector vs student loan collector skills

Common debt collector skills
  • Customer Service, 9%
  • Outbound Calls, 9%
  • Payment Arrangements, 8%
  • Delinquent Accounts, 8%
  • Credit Card Payments, 6%
  • FDCPA, 5%
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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