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Loan counselor education requirements
Updated January 8, 2025
4 min read
There are several educational requirements to become a loan counselor. Loan counselors usually study business, criminal justice, or psychology. 49% of loan counselors hold a bachelor's degree, and 21% hold an associate degree. We analyzed 4,448 real loan counselor resumes to see exactly what loan counselor education sections show.
The most common colleges for loan counselors are the University of Phoenix and the University of Phoenix.
There are also many online loan counselor courses to help get the education required to be a loan counselor.
What education do you need to become a loan counselor?
What degree do you need to be a loan counselor?
- Bachelor's, 49%
- Associate, 21%
- High School Diploma, 17%
- Diploma, 5%
- Other Degrees, 8%
What should I major in to become a loan counselor?
- Business, 32%
- Criminal Justice, 8%
- Psychology, 6%
- Accounting, 6%
- Other Majors, 48%
Most common colleges for loan counselors
| Loan counselor common college | Percentages |
|---|---|
| University of Phoenix | 19.35% |
| University of North Texas | 15.26% |
| Pennsylvania State University | 10.90% |
| DeVry University | 6.81% |
| University of Northern Iowa | 4.63% |
Best majors for loan counselors
| Rank | Major | Percentages |
|---|---|---|
| 1 | Business | 31.7% |
| 2 | Criminal Justice | 7.6% |
| 3 | Psychology | 6.5% |
| 4 | Accounting | 6.4% |
| 5 | Communication | 6.2% |
Best colleges for loan counselors
The best colleges for loan counselors are Stanford University, Northwestern University, and University of Pennsylvania.
A loan counselor 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 counselors. 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 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
20 best online courses for loan counselors
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Top 10 most affordable universities for loan counselors
The most affordable schools for loan counselors are SUNY Farmingdale, california state university - bakersfield, and baruch college of the city university of new york.
If the best universities for loan counselors 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 counselors.
1. SUNY Farmingdale
Farmingdale, NY • Private
In-state tuition
$8,306
Cost of attendance
16,091
2. California State University - Bakersfield
Bakersfield, CA • Private
In-state tuition
$7,309
Cost of attendance
16,714
3. Baruch College of the City University of New York
New York, NY • Private
In-state tuition
$7,262
Cost of attendance
14,046
4. California State University - Dominguez Hills
Carson, CA • Private
In-state tuition
$6,942
Cost of attendance
14,469
5. Brooklyn College of the City University of New York
Brooklyn, NY • Private
In-state tuition
$7,240
Cost of attendance
13,991
6. Brigham Young University
Provo, UT • Private
In-state tuition
$5,620
Cost of attendance
18,136
7. SUNY Polytechnic Institute
Utica, NY • Private
In-state tuition
$8,238
Cost of attendance
21,567
8. USF Sarasota-Manatee
Sarasota, FL • Private
In-state tuition
$5,587
Cost of attendance
13,043
9. San Diego State University
San Diego, CA • Private
In-state tuition
$7,488
Cost of attendance
22,990
10. Clayton State University
Morrow, GA • Private
In-state tuition
$5,419
Cost of attendance
17,697
Top 10 hardest universities to get into for loan counselors
The hardest universities for loan counselors to get into are Stanford University, Northwestern University, and University of Pennsylvania.
Some great schools for loan counselors 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 counselors 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. Stanford University
Stanford, CA • Private
Admissions rate
4%
SAT average
1,497
2. Northwestern University
Evanston, IL • Private
Admissions rate
8%
SAT average
1,508
3. University of Pennsylvania
Philadelphia, PA • Private
Admissions rate
8%
SAT average
1,492
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. University of Southern California
Los Angeles, CA • Private
Admissions rate
13%
SAT average
1,445
7. Villanova University
Villanova, PA • Private
Admissions rate
29%
SAT average
1,407
8. Bentley University
Waltham, MA • Private
Admissions rate
43%
SAT average
1,338
9. SUNY at Binghamton
Vestal, NY • Private
Admissions rate
40%
SAT average
1,376
10. Brandeis University
Waltham, MA • Private
Admissions rate
31%
SAT average
1,398
Top 10 easy-to-apply-to universities for loan counselors
The easiest schools for loan counselors to get into are Oklahoma Wesleyan University, notre dame de namur university, and holy names university.
Some schools are much easier to get into. If you want to start your career as a loan counselor 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 counselors.
1. Oklahoma Wesleyan University
Bartlesville, OK • Private
Admissions rate
68%
SAT average
964
2. Notre Dame de Namur University
Belmont, CA • Private
Admissions rate
82%
SAT average
983
3. Holy Names University
Oakland, CA • Private
Admissions rate
70%
SAT average
849
4. Notre Dame College
Cleveland, OH • Private
Admissions rate
90%
SAT average
994
5. LIM College
New York, NY • Private
Admissions rate
83%
SAT average
1,061
6. Nyack College
New York, NY • Private
Admissions rate
98%
SAT average
999
7. Life University
Marietta, GA • Private
Admissions rate
94%
SAT average
979
8. D'Youville College
Buffalo, NY • Private
Admissions rate
100%
SAT average
1,072
9. Presentation College
Aberdeen, SD • Private
Admissions rate
97%
SAT average
1,050
10. Oregon Institute of Technology
Klamath Falls, OR • Private
Admissions rate
96%
SAT average
1,139
Average loan counselor salary by education level
| Loan counselor education level | Loan counselor salary |
|---|---|
| Master's Degree | $56,105 |
| High School Diploma or Less | $48,471 |
| Bachelor's Degree | $52,914 |
| Some College/ Associate Degree | $48,740 |
Loan counselor 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