Career and Education Opportunities for Loan Counselors in Glendale, Arizona
Loan counselors can find both educational opportunities and jobs in the Glendale, Arizona area. There are currently 910 jobs for loan counselors in Arizona and this is projected to grow 23% to about 1,130 jobs by 2016. This is better than the national trend for loan counselors, which sees this job pool growing by about 16.3% over the next eight years. Loan counselors generally provide guidance to prospective loan applicants who have problems qualifying for traditional loans.
Loan counselors earn approximately $17 hourly or $37,110 per year on average in Arizona. Nationally they average about $18 hourly or $37,470 per year. Compared with people working in the overall category of Accounting and Auditing, people working as loan counselors in Arizona earn less. They earn less than people working in the overall category of Accounting and Auditing nationally. People working as loan counselors can fill a number of jobs, such as: loan officer, financial aid advisor, and financial aid director.
There are seventy-four schools of higher education in the Glendale area, including three within twenty-five miles of Glendale where you can get a degree to start your career as a loan counselor. Given that the most common education level for loan counselors is a Bachelor's degree, you can expect to spend about four years training to become a loan counselor if you already have a high school diploma.
CAREER DESCRIPTION: Loan Counselor
In general, loan counselors provide guidance to prospective loan applicants who have problems qualifying for traditional loans. They also guidance may include determining the best type of loan and explaining loan requirements or restrictions.
Loan counselors interview applicants and request specified data for loan applications. They also contact applicants or creditors to deal with questions about applications or to help with completion of paperwork. Equally important, loan counselors have to check loan agreements to insure that they are complete and accurate, in line with policies. They are often called upon to maintain and review account records, updating and recategorizing them in line with status changes. They are expected to analyze applicants' financial status and property evaluations to establish feasibility of granting loans. Finally, loan counselors submit applications to credit analysts for verification and recommendation.
Every day, loan counselors are expected to be able to see details at a very fine level of focus. They need to listen to and understand others in meetings. It is also important that they speak clearly.
It is important for loan counselors to supervise loan personnel. They are often called upon to calculate amount of debt and funds available to develop methods of payoff and to estimate time for debt liquidation. They also maintain current knowledge of credit regulations. They are sometimes expected to inspect billing for accuracy. Somewhat less frequently, loan counselors are also expected to supervise loan personnel.
Loan counselors sometimes are asked to inspect accounts to establish write-offs for collection agencies. and match students' needs and eligibility with available financial aid programs to furnish informed recommendations. And finally, they sometimes have to compare data on student aid applications with eligibility requirements of assistance programs.
Like many other jobs, loan counselors must have exceptional integrity and be able to deal with stress and deal with situations calmly.
Similar jobs with educational opportunities in Glendale include:
- Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
- Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
- Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
- Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
- Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
- Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
- Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
- Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
- Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
- Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
- Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
- Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
EDUCATIONAL OPPORTUNITIES: Loan Counselor Training
Rio Salado College - Tempe, AZ
Rio Salado College, 2323 W 14th St, Tempe, AZ 85281. Rio Salado College is a large college located in Tempe, Arizona. It is a public school with primarily 2-year programs and has 19,186 students. Rio Salado College has a less than one year program in Banking and Financial Support Services which graduated seventy-six students in 2008.
Mesa Community College - Mesa, AZ
Mesa Community College, 1833 W Southern Ave, Mesa, AZ 85202. Mesa Community College is a large college located in Mesa, Arizona. It is a public school with primarily 2-year programs and has 23,825 students. Mesa Community College has an associate's degree program in Banking and Financial Support Services.
Phoenix College - Phoenix, AZ
Phoenix College, 1202 W Thomas Rd, Phoenix, AZ 85013. Phoenix College is a large college located in Phoenix, Arizona. It is a public school with primarily 2-year programs and has 10,917 students. Phoenix College has less than one year, one to two year, and associate's degree programs in Banking and Financial Support Services which graduated zero, zero, and one students respectively in 2008.
Certified Personal Banker: Applicable to financial services professionals who have completed the AIB Personal Banking Diploma and who function as personal bankers.
For more information, see the Institute of Certified Bankers website.
Certified Investment Management Analyst: The CIMA offers an intense educational experience focusing on asset allocation, manager search and selection, investment policy and performance measurement.
For more information, see the Investment Management Consultants Association website.
LOCATION INFORMATION: Glendale, Arizona
Glendale is located in Maricopa County, Arizona. It has a population of over 251,522, which has grown by 14.9% over the last ten years. The cost of living index in Glendale, 92, is below the national average. New single-family homes in Glendale are priced at $278,800 on average, which is far greater than the state average. In 2008, seventy-eight new homes were built in Glendale, down from two hundred ninety-eight the previous year.
The three big industries for women in Glendale are health care, educational services, and finance and insurance. For men, it is construction, public administration, and administrative and support and waste management services. The average travel time to work is about 28 minutes. More than 21.0% of Glendale residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 7.1%, is lower than the state average.
The unemployment rate in Glendale is 8.9%, which is less than Arizona's average of 9.3%.
The percentage of Glendale residents that are affiliated with a religious congregation, 39.7%, is less than the national average but more than the state average. The most common religious groups are the Catholic Church, the LDS (Mormon) Church and the Southern Baptist Convention.
Glendale is home to the Southwest Poultry Experiment Station and the Maryvale Substation as well as Thunderbird Park and Bicentennial Park. Shopping malls in the area include Glen Fairs Shopping Center, Glendale Plaza Shopping Center and Glendale Shopping Center. Visitors to Glendale can choose from Best Western Inn Phoenix Glen, AriTime Personal Services and Four Seasons Flowers & Gifts for temporary stays in the area.