The average loan counselor salary is $49,002. The most common degree is a bachelor's degree degree with an business major. It usually takes 1-2 years of experience to become a loan counselor. Loan counselors with a Certified Management Accountant (CMA) certification earn more money. Between 2018 and 2028, the career is expected to grow 8% and produce 24,300 job opportunities across the U.S.

What Does a Loan Counselor Do

There are certain skills that many loan counselors have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed detail oriented, initiative and interpersonal skills.

Learn more about what a Loan Counselor does

How To Become a Loan Counselor

If you're interested in becoming a loan counselor, one of the first things to consider is how much education you need. We've determined that 49.4% of loan counselors have a bachelor's degree. In terms of higher education levels, we found that 3.8% of loan counselors have master's degrees. Even though most loan counselors have a college degree, it's possible to become one with only a high school degree or GED.

Learn More About How To Become a Loan Counselor

Loan Counselor Career Paths

Average Salary for a Loan Counselor

Loan Counselors in America make an average salary of $49,002 per year or $24 per hour. The top 10 percent makes over $63,000 per year, while the bottom 10 percent under $37,000 per year.
Average Loan Counselor Salary
$49,002 Yearly
$23.56 hourly
$37,000
10 %
$49,000
Median
$63,000
90 %

What Am I Worth?

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States With The Most Loan Counselor Jobs

Mouse over a state to see the number of active loan counselor jobs in each state. The darker areas on the map show where loan counselors earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Loan Counselor Jobs By State

RankStateNumber of JobsAverage Salary
1California1,879$50,192
2Florida1,331$47,868
3Texas1,058$42,085
4New York979$59,005
5Pennsylvania865$47,251
6Illinois770$44,017
7New Jersey613$54,326
8Georgia603$38,739
9Arizona588$41,634
10Minnesota542$42,410
11Ohio513$46,974
12Washington466$40,448
13Colorado454$48,407
14North Carolina451$43,327
15Virginia442$41,911
16Michigan441$43,765
17Maryland420$42,213
18Missouri330$51,253
19Tennessee329$42,161
20Massachusetts313$51,564
21Indiana313$40,180
22Connecticut276$56,911
23South Carolina273$46,784
24Wisconsin269$40,692
25Iowa239$43,606
26Oregon228$44,616
27Alabama210$43,662
28Louisiana194$40,282
29Utah182$52,155
30Kentucky173$45,451
31Kansas138$43,177
32Arkansas134$37,061
33Nevada133$53,869
34Montana109$39,108
35Oklahoma109$38,031
36Mississippi105$52,792
37Idaho105$39,475
38New Mexico100$44,146
39Delaware97$56,367
40Maine91$40,540
41Nebraska84$51,317
42New Hampshire79$54,985
43Rhode Island73$56,687
44North Dakota70$52,906
45Hawaii66$44,962
46Alaska58$56,559
47West Virginia55$47,107
48South Dakota55$38,870
49Wyoming47$41,764
50Vermont41$53,890

Loan Counselor Education

Loan Counselor Majors

31.7 %

Loan Counselor Degrees

Bachelors

49.4 %

Associate

21.0 %

High School Diploma

16.8 %

Top Colleges for Loan Counselors

1. Stanford University

Stanford, CA • Private

In-State Tuition
$51,354
Enrollment
7,083

2. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

3. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

4. Maine Maritime Academy

Castine, ME • Private

In-State Tuition
$13,478
Enrollment
979

5. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

6. California State University - Bakersfield

Bakersfield, CA • Private

In-State Tuition
$7,309
Enrollment
9,142

7. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

8. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

9. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

10. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

Top Skills For a Loan Counselor

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 14.0% of loan counselors listed phone calls on their resume, but soft skills such as detail oriented and initiative are important as well.

  • Phone Calls, 14.0%
  • Payment Arrangements, 11.8%
  • Federal Regulations, 8.1%
  • Outbound Collection Calls, 5.8%
  • Inbound Calls, 5.8%
  • Other Skills, 54.5%

Choose From 10+ Customizable Loan Counselor Resume templates

Zippia allows you to choose from different easy-to-use Loan Counselor templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Loan Counselor resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Loan Counselor Resume

Loan Counselor Demographics

Loan Counselor Gender Distribution

Female
Female
63%
Male
Male
37%

After extensive research and analysis, Zippia's data science team found that:

  • Among loan counselors, 62.9% of them are women, while 37.1% are men.

  • The most common race/ethnicity among loan counselors is White, which makes up 67.5% of all loan counselors.

  • The most common foreign language among loan counselors is Spanish at 76.5%.

Work Experience Programs For Loan Counselors

Virtual work experience programs replicate work at top companies and help you gain the skills to be successful when applying and working there. In only a few hours, learn the relevant tools necessary to complete a typical work day at that company. Virtual work experience programs are 100% free, open-access, and self-paced. No experience or application is required!

Financial Services Regulation Program

Company: Herbert Smith Freehills

Cost: Free

Duration: 5-6.5 hours

Audit Program

Company: Grant Thornton Australia

Cost: Free

Duration: 5-6 hours

Restructuring & Special Situations Program

Company: Latham & Watkins

Cost: Free

Duration: 5-6 hours

Commercial Law Program

Company: Bowmans South Africa

Cost: Free

Duration: 12-13 hours

Financial Audit Program

Company: PwC Switzerland

Cost: Free

Duration: 5-6 hours

Accounting Program

Company: Chartered Accountants ANZ

Cost: Free

Duration: 3 hours

Client Service Program

Company: Bloomberg

Cost: Free

Duration: 5-6 hours

Fixed Income & Equities Program

Company: Jefferies

Cost: Free

Duration: 2-3 hours

Accounting and Business Performance Program

Company: Chartered Accountants ANZ

Cost: Free

Duration: 3-4.5 hours

Online Courses For Loan Counselor That You May Like

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

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

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Adjusting entry creation, posting adjusting entries to a worksheet, creating financial statements from the trial balance...

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Best States For a Loan Counselor

Some places are better than others when it comes to starting a career as a loan counselor. The best states for people in this position are New York, Connecticut, Rhode Island, and Alaska. Loan counselors make the most in New York with an average salary of $59,005. Whereas in Connecticut and Rhode Island, they would average $56,911 and $56,687, respectively. While loan counselors would only make an average of $56,559 in Alaska, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Delaware

Total Loan Counselor Jobs:
97
Highest 10% Earn:
$77,000
Location Quotient:
1.25

2. Connecticut

Total Loan Counselor Jobs:
276
Highest 10% Earn:
$76,000
Location Quotient:
1.35

3. New York

Total Loan Counselor Jobs:
979
Highest 10% Earn:
$80,000
Location Quotient:
1.24
Full List Of Best States For Loan Counselors

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Top Loan Counselor Employers

Most Common Employers For Loan Counselor

RankCompanyAverage SalaryHourly RateJob Openings
1JPMorgan Chase & Co.$79,938$38.4352
2Bank of America$61,417$29.5329
3Wells Fargo$60,421$29.0539
4Ocwen Financial$60,118$28.9035
5CTBC Bank$53,960$25.9418
6Navient$52,458$25.2234
7Nationstar Mortgage$51,285$24.66229
8KB Home$51,220$24.6322
9Midland Mortgage$50,745$24.4066
10Lendmark Financial$50,524$24.2919

Loan Counselor Videos