Student loan collector vs loan adviser

The differences between student loan collectors and loan advisers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become a student loan collector, becoming a loan adviser takes usually requires 4-6 years. Additionally, a loan adviser has an average salary of $40,365, 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 a loan adviser are customer service, origination, and mortgage loans.

Student loan collector vs loan adviser overview

	Student Loan Collector	Loan Adviser
Yearly salary	$35,477	$40,365
Hourly rate	$17.06	$19.41
Growth rate	-8%	4%
Number of jobs	25,976	24,189
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 42%	Bachelor's Degree, 52%
Average age	46	45
Years of experience	12	6

Student loan collector vs loan adviser salary

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

	Student Loan Collector	Loan Adviser
Average salary	$35,477	$40,365
Salary range	Between $26,000 And $47,000	Between $28,000 And $56,000
Highest paying City	-	-
Highest paying state	-	-
Best paying company	-	-
Best paying industry	-	-

Differences between student loan collector and loan adviser education

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

	Student Loan Collector	Loan Adviser
Most common degree	Bachelor's Degree, 42%	Bachelor's Degree, 52%
Most common major	Business	Business
Most common college	-	University of Pennsylvania

Student loan collector vs loan adviser demographics

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

	Student Loan Collector	Loan Adviser
Average age	46	45
Gender ratio	Male, 41.2% Female, 58.8%	Male, 47.7% Female, 52.3%
Race ratio	Black 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, 9.3% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.1% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between student loan collector and loan adviser 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.

Loan adviser example responsibilities.

Manage a multifacete commercial real estate investment firm.
Follow the FDCPA, FCRA and TCPA guidelines and is a license collector.
Assist future homeowners obtain financing through FHA, VA, USDA, or conventional financing.
Handle all calls with due care to ensure proper adherence to FDCPA rules and regulations.
Determine financing options for clients, and advise them on a variety of FHA, conventional, and sub-prime mortgages.
Communicate to a small team basic loan restructuring possibilities to assist customers in resolving delinquency and avoiding foreclosure.

Student loan collector vs loan adviser 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 loan adviser skills

Customer Service, 44%
Origination, 14%
Mortgage Loans, 7%
Loan Process, 5%
Automated Underwriting, 4%
NMLS, 4%