Loan clerk education requirements

Updated January 8, 2025

4 min read

There are several educational requirements to become a loan clerk. Loan clerks usually study business, accounting, or finance. 40% of loan clerks hold a bachelor's degree, and 25% hold an high school diploma. We analyzed 2,040 real loan clerk resumes to see exactly what loan clerk education sections show.

The most common colleges for loan clerks are the University of Phoenix and the University of Phoenix.

There are also many online loan clerk courses to help get the education required to be a loan clerk.

There are certain loan clerk certifications that you should consider. These loan clerk certifications include Certified Management Accountant (CMA) and International Accredited Business Accountant (IABA).

What education do you need to become a loan clerk?

What degree do you need to be a loan clerk?

The most common degree for loan clerks is bachelor's degree, with 40% of loan clerks earning that degree. The second and third most common degree levels are high school diploma degree at 25% and high school diploma degree at 23%.

Bachelor's, 40%

High School Diploma, 25%

Associate, 23%

Diploma, 7%

Other Degrees, 5%

What should I major in to become a loan clerk?

You should major in business to become a loan clerk. 35% of loan clerks major in business. Other common majors for a loan clerk include accounting and finance.

Business, 35%

Accounting, 12%

Finance, 8%

General Studies, 5%

Other Majors, 40%

Most common colleges for loan clerks

Loan clerks often get their degrees at University of Phoenix, Kent State University, and Teachers College of San Joaquin. Here are the most common colleges for loan clerks in the US based on their resumes.

Loan clerk common college	Percentages
University of Phoenix	19.35%
Kent State University	6.45%
Teachers College of San Joaquin	5.38%
Ashford University	5.38%
St. Louis	5.38%

Show more common loan clerk colleges

Best majors for loan clerks

Rank	Major	Percentages
1	Business	35.0%
2	Accounting	12.1%
3	Finance	8.1%
4	General Studies	5.4%
5	Liberal Arts	3.8%

Show more common loan clerk majors

Best colleges for loan clerks

The best colleges for loan clerks are Northwestern University, University of Pennsylvania, and University of Southern California.

A loan clerk 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 clerks. 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 clerks.

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 clerks

Advertising disclosure

1. How to Become a Mobile Notary and Loan Signing Agent

4.4

(2,960)

Learn how to make over six figures as a Real Estate Loan Signing Agent and Mobile Notary...

2. Become a Mortgage Loan Processor

4.6

(3,074)

Finibi Mortgage CEO, Joe Correa, teaches you how to become a mortgage loan processor...

3. Advanced Mortgage Loan Processor: Essential Skills Training

4.5

(764)

Finibi Mortgage CEO, Joe Correa, teaches you how to take your mortgage loan processor career to the next level...

4. Financial Accounting-Adjusting Entries & Financial Statement

4.6

(930)

Master Adjusting Entries & Financial Statements: A Comprehensive Guide for Accurate Accounting and Reporting...

5. Loan Processor & MLO Mortgage Math: Problems & Solutions

4.7

(271)

Mortgage skills training and SAFE Mortgage Loan Originator Licensing Exam math prep with 115 problems & solutions...

6. Financial Accounting & Excel-Comprehensive Accounting Course

4.3

(736)

Comprehensive accounting course to learn the accounting cycle in a practical way and pick up critical Excel fundamentals...

7. Become a Notary Loan Signing Agent

4.9

(311)

Learn 27 NSA terms, learn 35 documents typically used in a loan signing, common types of signing packages, and more!...

8. Financial Accounting-Debits & Credits-Accounting Transaction

4.5

(781)

Masterclass: Learn Accounting Principles, Financial Statements, Transactions & More in this Comprehensive Course...

9. Start a Profitable Career as a Mortgage Loan Originator

4.3

(371)

Learn from the president and CEO of Finibi Mortgage, Joe Correa, how the entire mortgage process works...

10. The Ultimate Guide to Becoming a Notary Loan Signing Agent

4.6

(521)

Step-By-Step Blueprint on Creating a Thriving Mobile Notary Loan Signing Agent Business in Under 30 Days...

11. Advanced Financial Accounting: Acquisitions & Consolidations

4.1

(703)

Acquisitions, Consolidations, and Reporting. Master complex concepts and applications...

12. Principles of Financial Accounting

4.5

(875)

Learn the complete accounting cycle -recording business transactions to presenting the Balance Sheet & Income Statement...

13. Financial Accounting: The Complete Introductory Crash Course

4.5

(1,604)

Learn the Basics of Financial Accounting: Financial Statements, Debits and Credits, The Accounting Cycle and More!...

14. Accounting basics, create financial statements easily

4.5

(280)

Discover, develop, practice your financial information and explore the world of accounting...

15. Financial Accounting - Subsidiary Ledgers & Special Journals

4.5

(580)

Mastering Special Journals and Subsidiary Ledgers: A Comprehensive Guide to Streamlined Accounting Practices...

16. Audit - Financial Statement

4.4

(2,545)

Master the Art of Auditing Financial Statements: In-Depth Analysis, Techniques, and Real-World Case Studies...

17. Accounting & Financial Statement Analysis: Complete Training

4.6

(16,804)

Accounting & Financial Ratio Analysis made easy. Learn important accounting skills that will get your foot in the door!...

18. Financial Statement Auditing Cycles

4.3

(251)

In this course, we learn how public accountants plan and execute an audit...

19. Mastering the Pre-qualification Process of a Mortgage Loan

4.3

(257)

CEO and Founder of Finibi Mortgage teaches you how to pre-qualify borrowers from start to finish...

20. Financial Statement Analysis

4.7

(255)

Learn how to make understanding financial statements your superpower!...

Top 10 most affordable universities for loan clerks

The most affordable schools for loan clerks are Baruch College of the City University of New York, usf sarasota-manatee, and suny farmingdale.

If the best universities for loan clerks 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 clerks.

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 clerks

The hardest universities for loan clerks to get into are Northwestern University, University of Pennsylvania, and University of Southern California.

Some great schools for loan clerks 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 clerks 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

SAT average

1,508

2. University of Pennsylvania

Philadelphia, PA • Private

Admissions rate

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 clerks

The easiest schools for loan clerks 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 clerk 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 clerks.

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 clerk salary by education level

Loan clerks with a Bachelor's degree earn more than those without, at $28,382 annually. With a High School Diploma degree, loan clerks earn a median annual income of $26,615 compared to $26,488 for loan clerks with an Associate degree.

Loan clerk education level	Loan clerk salary
High School Diploma or Less	$26,615
Bachelor's Degree	$28,382
Some College/ Associate Degree	$26,488

Loan clerk education FAQs

What is the best college for Loan Clerks?

Have more questions? See all answers to common office and administrative questions.

Search for loan clerk jobs

Updated January 8, 2025

Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

Browse office and administrative jobs