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Student loan collector vs account representative

The differences between student loan collectors and account representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a student loan collector and an account representative. Additionally, an account representative has an average salary of $36,977, which is higher than the $35,477 average annual salary of a student loan collector.

The top three skills for a student loan collector include student loan accounts, customer service and delinquent accounts. The most important skills for an account representative are customer service, patients, and patient accounts.

Student loan collector vs account representative overview

Student Loan CollectorAccount Representative
Yearly salary$35,477$36,977
Hourly rate$17.06$17.78
Growth rate-8%-8%
Number of jobs25,976183,446
Job satisfaction--
Most common degreeBachelor's Degree, 42%Bachelor's Degree, 52%
Average age4646
Years of experience1212

Student loan collector vs account representative salary

Student loan collectors and account representatives have different pay scales, as shown below.

Student Loan CollectorAccount Representative
Average salary$35,477$36,977
Salary rangeBetween $26,000 And $47,000Between $26,000 And $51,000
Highest paying City-Los Angeles, CA
Highest paying state-California
Best paying company-New Relic
Best paying industry-Finance

Differences between student loan collector and account representative education

There are a few differences between a student loan collector and an account representative in terms of educational background:

Student Loan CollectorAccount Representative
Most common degreeBachelor's Degree, 42%Bachelor's Degree, 52%
Most common majorBusinessBusiness
Most common college--

Student loan collector vs account representative demographics

Here are the differences between student loan collectors' and account representatives' demographics:

Student Loan CollectorAccount Representative
Average age4646
Gender ratioMale, 41.2% Female, 58.8%Male, 33.6% Female, 66.4%
Race ratioBlack or African American, 11.8% Unknown, 4.0% Hispanic or Latino, 18.4% Asian, 3.6% White, 61.7% American Indian and Alaska Native, 0.5%Black or African American, 12.5% Unknown, 4.2% Hispanic or Latino, 17.3% Asian, 3.9% White, 61.6% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between student loan collector and account representative duties and responsibilities

Student loan collector example responsibilities.

  • Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
  • Provide effective and timely resolution whilst strictly adhering to the FDCPA regulations and policies.
  • Supervise a group of 12 collectors and ensuring that FDCPA rules and regulations are followed.
  • Maintain existing customer base by building strong relationships that includes contract negotiation and customer issue resolution.
  • Research patient account information and make contact with insurance carriers to determine patient eligibility for Medicare benefits.
  • Secure modification documents including HAMP and bank require documents.

Account representative example responsibilities.

  • Manage all billing accounts including Medicare/Medicaid, HMO and individual accounts.
  • Manage the daily correspondence from assign practices with keeping doctor/patient confidentiality under consideration along with HIPPA regulations.
  • Manage and maintain an internal database system to generate reports and produce accurate account information for patients and insurance companies.
  • Educate physicians to use current ICD-9 diagnostic coding and preparation to begin ICD-10 coding requirements.
  • Analyze health care insurance/litigation patient account files to resolve outstanding and delinquent accounts due to the healthcare client.
  • Promote ThermoCool SmartTouch ablation catheter device to electrophysiologists.
  • Show more

Student loan collector vs account representative skills

Common student loan collector skills
  • Student Loan Accounts, 16%
  • Customer Service, 9%
  • Delinquent Accounts, 7%
  • FDCPA, 5%
  • State Laws, 4%
  • Payment Arrangements, 4%
Common account representative skills
  • Customer Service, 21%
  • Patients, 18%
  • Patient Accounts, 5%
  • Data Entry, 3%
  • Medicaid, 3%
  • Customer Satisfaction, 3%

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