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Finance aid officer vs mortgage loan counselor

The differences between finance aid officers and mortgage loan counselors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a finance aid officer and a mortgage loan counselor. Additionally, a mortgage loan counselor has an average salary of $45,635, which is higher than the $38,163 average annual salary of a finance aid officer.

The top three skills for a finance aid officer include financial aid, customer service and FAFSA. The most important skills for a mortgage loan counselor are customer service, FHA, and loan process.

Finance aid officer vs mortgage loan counselor overview

Finance Aid OfficerMortgage Loan Counselor
Yearly salary$38,163$45,635
Hourly rate$18.35$21.94
Growth rate7%-3%
Number of jobs146,15438,488
Job satisfaction--
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 54%
Average age4545
Years of experience22

Finance aid officer vs mortgage loan counselor salary

Finance aid officers and mortgage loan counselors have different pay scales, as shown below.

Finance Aid OfficerMortgage Loan Counselor
Average salary$38,163$45,635
Salary rangeBetween $29,000 And $49,000Between $35,000 And $57,000
Highest paying CityNew York, NY-
Highest paying stateNew York-
Best paying companyColumbia University in the City of New York-
Best paying industryNon Profits-

Differences between finance aid officer and mortgage loan counselor education

There are a few differences between a finance aid officer and a mortgage loan counselor in terms of educational background:

Finance Aid OfficerMortgage Loan Counselor
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 54%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaStanford University

Finance aid officer vs mortgage loan counselor demographics

Here are the differences between finance aid officers' and mortgage loan counselors' demographics:

Finance Aid OfficerMortgage Loan Counselor
Average age4545
Gender ratioMale, 27.5% Female, 72.5%Male, 39.6% Female, 60.4%
Race ratioBlack or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5%Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between finance aid officer and mortgage loan counselor duties and responsibilities

Finance aid officer example responsibilities.

  • Manage project for the development and implementation of a university-wide scholarship database, STAARS.
  • Update CampusVue portal with detail notes concerning briefings, issue students thumb drive and review financial aid documentation in detail.
  • Assist students and parents in the financial aid application procedure, process and prepare all student-funding requests using CampusVue software.
  • Review and evaluate ISIR information to ensure accurate financial aid processing.
  • Coordinate with the appropriate campus personnel to ensure accurate and timely disbursement of scholarship and federal work-study disbursements.
  • Verify loan periods, order quarterly loans and check NSLDS on eligibility for students.
  • Show more

Mortgage loan counselor example responsibilities.

  • Innovate technical solutions, including development of complex macros within MSP, to automate work and reduce manual processes
  • Develop effective partnerships with non-profit organizations and community developments to improve origination of affordable housing loans for first time home buyers.
  • Help customers to bring their accounts current through negotiation and listening skills and programs that are available through Drivetime for assistance.

Finance aid officer vs mortgage loan counselor skills

Common finance aid officer skills
  • Financial Aid, 19%
  • Customer Service, 14%
  • FAFSA, 8%
  • Title IV, 6%
  • Student Loans, 5%
  • Financial Aid Packages, 4%
Common mortgage loan counselor skills
  • Customer Service, 19%
  • FHA, 11%
  • Loan Process, 9%
  • Outbound Calls, 9%
  • Payment Arrangements, 8%
  • Loan Modifications, 4%

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