CareerGPS

Loan Counselors
Summary Occupational Forecast Data for Credit Counselors
Employment Employment Change Average Annual Job Openings Wage & Training Levels
2018 2023 Numerical Percent New Jobs Replacement Jobs Total Median Hourly Median Annual Training Levels
127 134 7 5.18% 1 11 12 $23.30 $48,466 Bachelor's degree
Description: Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
Staffing Pattern Data Forecast Data Source: EMSI (2nd Quarter 2018)

Occupation Details

The information in this section represents occupational characteristics included in O*NET which defines key features of an occupation as a standardized, measurable set of variables called "descriptors". These distinguishing characteristics of an occupation are described in greater detail in the O*NET Content Model. All items are listed in descending order of importance.

  • Check loan agreements to ensure that they are complete and accurate, according to policies.
  • Refer loans to loan committees for approval.
  • Approve loans within specified limits.
  • Submit applications to credit analysts for verification and recommendation.
  • Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
  • Interview applicants and request specified information for loan applications.
  • Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.
  • Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
  • Maintain current knowledge of credit regulations.
  • Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
  • Analyze potential loan markets to find opportunities to promote loans and financial services.
  • Review billing for accuracy.
  • Supervise loan personnel.
  • Maintain and review account records, updating and recategorizing them according to status changes.
  • Assist in selection of financial award candidates using electronic databases to certify loan eligibility.

Knowledge

90%
Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
74%
English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
73%
Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
70%
Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
67%
Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
62%
Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
62%
Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
54%
Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
52%
Psychology - Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.

Skills

81%
Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
78%
Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
75%
Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
75%
Speaking - Talking to others to convey information effectively.
72%
Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
69%
Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
69%
Coordination - Adjusting actions in relation to others' actions.
69%
Writing - Communicating effectively in writing as appropriate for the needs of the audience.
65%
Learning Strategies - Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
65%
Time Management - Managing one's own time and the time of others.
65%
Service Orientation - Actively looking for ways to help people.
65%
Instructing - Teaching others how to do something.
65%
Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
62%
Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
60%
Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
56%
Mathematics - Using mathematics to solve problems.
53%
Negotiation - Bringing others together and trying to reconcile differences.
53%
Persuasion - Persuading others to change their minds or behavior.
53%
Management of Personnel Resources - Motivating, developing, and directing people as they work, identifying the best people for the job.
50%
Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.

Abilities

78%
Speech Clarity - The ability to speak clearly so others can understand you.
75%
Written Comprehension - The ability to read and understand information and ideas presented in writing.
75%
Speech Recognition - The ability to identify and understand the speech of another person.
75%
Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
75%
Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
75%
Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
72%
Near Vision - The ability to see details at close range (within a few feet of the observer).
72%
Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
72%
Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
69%
Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
66%
Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
66%
Written Expression - The ability to communicate information and ideas in writing so others will understand.
66%
Selective Attention - The ability to concentrate on a task over a period of time without being distracted.
66%
Perceptual Speed - The ability to quickly and accurately compare similarities and differences among sets of letters, numbers, objects, pictures, or patterns. The things to be compared may be presented at the same time or one after the other. This ability also includes compa
60%
Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.
56%
Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
56%
Originality - The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
53%
Flexibility of Closure - The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
53%
Fluency of Ideas - The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
50%
Time Sharing - The ability to shift back and forth between two or more activities or sources of information (such as speech, sounds, touch, or other sources).

Work Activities

96%
Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
95%
Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
94%
Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
93%
Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
88%
Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
87%
Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
87%
Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.
86%
Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
84%
Performing for or Working Directly with the Public - Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
82%
Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
80%
Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
77%
Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
74%
Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
73%
Provide Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
71%
Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.
71%
Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
69%
Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
69%
Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
67%
Monitor Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
67%
Assisting and Caring for Others - Providing personal assistance, medical attention, emotional support, or other personal care to others such as coworkers, customers, or patients.
66%
Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
65%
Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
64%
Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.
63%
Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
63%
Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.
62%
Judging the Qualities of Things, Services, or People - Assessing the value, importance, or quality of things or people.
61%
Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
61%
Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.
57%
Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
53%
Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.
51%
Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money.
Title Job Zone Four: Considerable Preparation Needed
Overall Experience A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Job Training Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Job Zone Examples Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, environmental engineers, criminal investigators, and special agents.
Education Most of these occupations require a four-year bachelor's degree, but some do not.

Interests

Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Social - Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Work Styles

Integrity - Job requires being honest and ethical.
Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
Initiative - Job requires a willingness to take on responsibilities and challenges.
Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Concern for Others - Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
Social Orientation - Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
Persistence - Job requires persistence in the face of obstacles.
Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.

Work Values

Relationships - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.