Student loan correspondent vs loan administrator

The differences between student loan correspondents and loan administrators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a student loan correspondent and a loan administrator. Additionally, a student loan correspondent has an average salary of $46,486, which is higher than the $42,859 average annual salary of a loan administrator.

The top three skills for a student loan correspondent include customer service, inbound calls and outbound calls. The most important skills for a loan administrator are customer service, data entry, and loan administration.

Student loan correspondent vs loan administrator overview

	Student Loan Correspondent	Loan Administrator
Yearly salary	$46,486	$42,859
Hourly rate	$22.35	$20.61
Growth rate	4%	4%
Number of jobs	18,088	63,708
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 60%	Bachelor's Degree, 58%
Average age	45	45
Years of experience	6	6

Student loan correspondent vs loan administrator salary

Student loan correspondents and loan administrators have different pay scales, as shown below.

	Student Loan Correspondent	Loan Administrator
Average salary	$46,486	$42,859
Salary range	Between $33,000 And $65,000	Between $31,000 And $59,000
Highest paying City	-	Seattle, WA
Highest paying state	-	Hawaii
Best paying company	-	BNY Mellon
Best paying industry	-	Finance

Differences between student loan correspondent and loan administrator education

There are a few differences between a student loan correspondent and a loan administrator in terms of educational background:

	Student Loan Correspondent	Loan Administrator
Most common degree	Bachelor's Degree, 60%	Bachelor's Degree, 58%
Most common major	Business	Business
Most common college	Massachusetts Institute of Technology	University of Pennsylvania

Student loan correspondent vs loan administrator demographics

Here are the differences between student loan correspondents' and loan administrators' demographics:

	Student Loan Correspondent	Loan Administrator
Average age	45	45
Gender ratio	Male, 36.1% Female, 63.9%	Male, 23.2% Female, 76.8%
Race ratio	Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5%	Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between student loan correspondent and loan administrator duties and responsibilities

Student loan correspondent example responsibilities.

Develop Facebook strategy, execute launch and manage content.
Proofread and edit correspondence for accuracy and quality standards.
Interview prospective lenders to for additional services; significantly expand company lender sources in both purchase and refinance markets.
Analyze mortgagors for approval of HAMP or traditional modification.

Loan administrator example responsibilities.

Manage a multifacete commercial real estate investment firm.
Pull OFAC on all borrowers.
Order third party reports such as appraisals, titles, and OFAC information.
Order on FHA loans in a timely and efficient manner to meet month end deadlines.
Present and sell financial benefits of a variety of FHA, VA, and conventional loans.
Coordinate and maintain loans for adherence to credit policy as well as guidelines in keeping compliant with SBA regulations.

Student loan correspondent vs loan administrator skills

Common student loan correspondent skills

Customer Service, 24%
Inbound Calls, 18%
Outbound Calls, 13%
Student Loan Debt, 6%
Payment Arrangements, 5%
Credit Card, 5%

Common loan administrator skills

Customer Service, 14%
Data Entry, 5%
Loan Administration, 5%
Loan Processing, 5%
Financial Statements, 4%
Due Diligence, 4%

Student Loan Correspondent vs. similar jobs

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Student Loan Correspondent
Student Loan Correspondent vs Loan Administrator

Updated January 8, 2025

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