Career and Education Opportunities for Loan Counselors in Riverside, California
Loan counselors can find both educational opportunities and jobs in the Riverside, California area. The national trend for loan counselors 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.
Income for loan counselors is about $19 per hour or $39,770 per year on average in California. Nationally, their income is about $18 hourly or $37,470 annually. Loan counselors earn less than people working in the category of Accounting and Auditing generally in California and less than people in the Accounting and Auditing category nationally. Jobs in this field include: finance manager, credit counselor, and pell coordinator.
There is one school within twenty-five miles of Riverside where you can study to be a loan counselor, among twenty-three schools of higher education total in the Riverside area. Given that the most common education level for loan counselors is a Bachelor's degree, you can expect to spend about four years studying to be 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 Riverside 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
Riverside Community College - Riverside, CA
Riverside Community College, 4800 Magnolia Ave, Riverside, CA 92506. Riverside Community College is a large college located in Riverside, California. It is a public school with primarily 2-year programs and has 34,058 students. Riverside Community College has an associate's degree and a two to four year program in Banking and Financial Support Services.
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: Riverside, California
Riverside is located in Riverside County, California. It has a population of over 295,357, which has grown by 15.8% over the last ten years. The cost of living index in Riverside, 123, is far greater than the national average. New single-family homes in Riverside cost $328,500 on average, which is well above the state average. In 2008, sixty-nine new homes were built in Riverside, down from three hundred forty-two the previous year.
The top three industries for women in Riverside are educational services, health care, and accommodation and food services. For men, it is construction, educational services, and accommodation and food services. The average travel time to work is about 29 minutes. More than 19.1% of Riverside residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 7.9%, is lower than the state average.
The unemployment rate in Riverside is 15.2%, which is greater than California's average of 12.3%.
The percentage of Riverside residents that are affiliated with a religious congregation, 43.0%, is less than both the national and state average. All Saints Episcopal Church, All Souls Universalist Church and Allen Chapel African Methodist Episcopal Church are all churches located in Riverside. The most prominent religious groups are the Catholic Church, the LDS (Mormon) Church and the Southern Baptist Convention.
Riverside is home to the Riverside Art Museum and the Riverside Municipal Auditorium and Soldiers Memorial Building as well as Evans Park and Fairmount Park. Shopping malls in the area include Adams Plaza Shopping Center, Jurupa Grand Center Shopping Center and Five Points Shopping Center. Visitors to Riverside can choose from Airport-Inn, Arlington Motor Inn and Best Western of Riverside for temporary stays in the area.