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Loan administrator education requirements
Updated January 8, 2025
4 min read
There are several educational requirements to become a loan administrator. Loan administrators usually study business, finance, or accounting. 58% of loan administrators hold a bachelor's degree, and 20% hold an associate degree. We analyzed 3,657 real loan administrator resumes to see exactly what loan administrator education sections show.
The most common colleges for loan administrators are the University of Phoenix and the University of Phoenix.
There are also many online loan administrator courses to help get the education required to be a loan administrator.
What education do you need to become a loan administrator?
What degree do you need to be a loan administrator?
- Bachelor's, 58%
- Associate, 20%
- High School Diploma, 9%
- Master's, 7%
- Other Degrees, 6%
What should I major in to become a loan administrator?
- Business, 39%
- Finance, 14%
- Accounting, 11%
- Psychology, 3%
- Other Majors, 33%
Most common colleges for loan administrators
| Loan administrator common college | Percentages |
|---|---|
| University of Phoenix | 22.32% |
| New York University | 6.25% |
| Pace University | 5.36% |
| Baruch College of the City University of New York | 5.36% |
| DePaul University | 4.91% |
Best majors for loan administrators
| Rank | Major | Percentages |
|---|---|---|
| 1 | Business | 38.6% |
| 2 | Finance | 14.1% |
| 3 | Accounting | 10.8% |
| 4 | Psychology | 3.4% |
| 5 | Economics | 3.4% |
Best colleges for loan administrators
The best colleges for loan administrators are Northwestern University, University of Pennsylvania, and University of Southern California.
A loan administrator with advanced education typically earns a higher salary and has access to better jobs. That's why Zippia looked into the best colleges for loan administrators. We based this list on several metrics: admissions rate, retention rate, mean earnings of graduates, the ratio of working vs. non-working students ten years after admission, the average cost of attendance, and median debt for graduates who become loan administrators.
1. University of Pennsylvania
Philadelphia, PA • Private
In-state tuition
$55,584
Enrollment
10,764
2. Northwestern University
Evanston, IL • Private
In-state tuition
$54,568
Enrollment
8,451
3. University of Southern California
Los Angeles, CA • Private
In-state tuition
$56,225
Enrollment
19,548
4. SUNY at Binghamton
Vestal, NY • Private
In-state tuition
$9,808
Enrollment
13,990
5. Villanova University
Villanova, PA • Private
In-state tuition
$53,308
Enrollment
6,819
6. San Diego State University
San Diego, CA • Private
In-state tuition
$7,488
Enrollment
30,018
7. Bentley University
Waltham, MA • Private
In-state tuition
$49,880
Enrollment
4,177
8. Boston University
Boston, MA • Private
In-state tuition
$53,948
Enrollment
17,238
9. SUNY Stony Brook
Stony Brook, NY • Private
In-state tuition
$9,625
Enrollment
17,407
10. New York University
New York, NY • Private
In-state tuition
$51,828
Enrollment
26,339
20 best online courses for loan administrators
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Top 10 most affordable universities for loan administrators
The most affordable schools for loan administrators are Baruch College of the City University of New York, usf sarasota-manatee, and suny farmingdale.
If the best universities for loan administrators are out of your price range, check out these affordable schools. After factoring in in-state tuition and fees, the average cost of attendance, admissions rate, average net price, and mean earnings after six years, we found that these are the most affordable schools for loan administrators.
1. Baruch College of the City University of New York
New York, NY • Private
In-state tuition
$7,262
Cost of attendance
14,046
2. USF Sarasota-Manatee
Sarasota, FL • Private
In-state tuition
$5,587
Cost of attendance
13,043
3. SUNY Farmingdale
Farmingdale, NY • Private
In-state tuition
$8,306
Cost of attendance
16,091
4. Brooklyn College of the City University of New York
Brooklyn, NY • Private
In-state tuition
$7,240
Cost of attendance
13,991
5. California State University - Dominguez Hills
Carson, CA • Private
In-state tuition
$6,942
Cost of attendance
14,469
6. University of Florida
Gainesville, FL • Private
In-state tuition
$6,381
Cost of attendance
21,034
7. Brigham Young University
Provo, UT • Private
In-state tuition
$5,620
Cost of attendance
18,136
8. California State University - Long Beach
Long Beach, CA • Private
In-state tuition
$6,798
Cost of attendance
18,306
9. University of Puerto Rico - Mayaguez
Mayaguez, PR • Private
In-state tuition
$4,094
Cost of attendance
14,302
10. Florida International University
Miami, FL • Private
In-state tuition
$6,556
Cost of attendance
19,434
Top 10 hardest universities to get into for loan administrators
The hardest universities for loan administrators to get into are Northwestern University, University of Pennsylvania, and University of Southern California.
Some great schools for loan administrators are hard to get into, but they also set your career up for greater success. The list below shows the most challenging universities to get into for loan administrators based on an institution's admissions rates, average SAT scores accepted, median ACT scores accepted, and mean earnings of students six years after admission.
1. Northwestern University
Evanston, IL • Private
Admissions rate
8%
SAT average
1,508
2. University of Pennsylvania
Philadelphia, PA • Private
Admissions rate
8%
SAT average
1,492
3. University of Southern California
Los Angeles, CA • Private
Admissions rate
13%
SAT average
1,445
4. Boston University
Boston, MA • Private
Admissions rate
22%
SAT average
1,420
5. New York University
New York, NY • Private
Admissions rate
20%
SAT average
1,419
6. Villanova University
Villanova, PA • Private
Admissions rate
29%
SAT average
1,407
7. Vanderbilt University
Nashville, TN • Private
Admissions rate
10%
SAT average
1,514
8. Bentley University
Waltham, MA • Private
Admissions rate
43%
SAT average
1,338
9. George Washington University, The
Washington, DC • Private
Admissions rate
42%
SAT average
1,380
10. University of Rochester
Rochester, NY • Private
Admissions rate
29%
SAT average
1,422
Top 10 easy-to-apply-to universities for loan administrators
The easiest schools for loan administrators to get into are Oklahoma Wesleyan University, holy names university, and barry university.
Some schools are much easier to get into. If you want to start your career as a loan administrator without much hassle, check out the list of schools where you will be accepted in no time. We compiled admissions rates, average SAT scores, average ACT scores, and average salary of students six years after graduation to uncover which were the easiest schools to get into for loan administrators.
1. Oklahoma Wesleyan University
Bartlesville, OK • Private
Admissions rate
68%
SAT average
964
2. Holy Names University
Oakland, CA • Private
Admissions rate
70%
SAT average
849
3. Barry University
Miami, FL • Private
Admissions rate
91%
SAT average
1,006
4. Notre Dame College
Cleveland, OH • Private
Admissions rate
90%
SAT average
994
5. University of North Texas at Dallas
Dallas, TX • Private
Admissions rate
83%
SAT average
992
6. La Roche College
Pittsburgh, PA • Private
Admissions rate
99%
SAT average
1,008
7. Ottawa University
Ottawa, KS • Private
Admissions rate
78%
SAT average
1,024
8. Holy Family University
Philadelphia, PA • Private
Admissions rate
72%
SAT average
1,017
9. Saint Joseph's College of Maine
Standish, ME • Private
Admissions rate
84%
SAT average
1,069
10. Kean University
Union, NJ • Private
Admissions rate
86%
SAT average
991
Average loan administrator salary by education level
| Loan administrator education level | Loan administrator salary |
|---|---|
| Master's Degree | $50,503 |
| High School Diploma or Less | $42,284 |
| Bachelor's Degree | $47,068 |
| Some College/ Associate Degree | $42,592 |
Loan administrator education FAQs
Have more questions? See all answers to common business and financial questions.
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Updated January 8, 2025
Updated January 8, 2025