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Career and Education Opportunities for Loan Counselors in San Bernardino, California

Loan counselors can find both educational opportunities and jobs in the San Bernardino, California area. The national trend for loan counselors sees this job pool growing by about 16.3% over the next eight years. In general, loan counselors provide guidance to prospective loan applicants who have problems qualifying for traditional loans.

Income for loan counselors is about $19 hourly or $39,770 annually on average in California. Nationally, their income is about $18 per hour or $37,470 annually. Compared with people working in the overall category of Accounting and Auditing, people working as loan counselors in California 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: financial aid advisor, lending services manager, and farm mortgage agent.

There are two schools within twenty-five miles of San Bernardino where you can study to be a loan counselor, among fifty-one schools of higher education total in the San Bernardino area. The most common level of education 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

Loan Counselor video from the State of New Jersey Dept. of Labor and Workforce Development

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 San Bernardino 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

Chaffey College - Rancho Cucamonga, CA

Chaffey College, 5885 Haven Ave, Rancho Cucamonga, CA 91737-3002. Chaffey College is a large college located in Rancho Cucamonga, California. It is a public school with primarily 2-year programs and has 20,486 students. Chaffey College has a two to four year program in Banking and Financial Support Services.

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.

CERTIFICATIONS

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: San Bernardino, California

San Bernardino, California
San Bernardino, California photo by Ie909

San Bernardino is situated in San Bernardino County, California. It has a population of over 198,580, which has grown by 7.1% in the past ten years. The cost of living index in San Bernardino, 125, is far greater than the national average. New single-family homes in San Bernardino cost $182,700 on average, which is far less than the state average. In 2008, twenty-one new homes were constructed in San Bernardino, down from one hundred fifty-nine the previous year.

The three big industries for women in San Bernardino are health care, educational services, and accommodation and food services. For men, it is construction, educational services, and accommodation and food services. The average commute to work is about 28 minutes. More than 11.6% of San Bernardino residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 3.9%, is lower than the state average.

The unemployment rate in San Bernardino is 18.6%, which is greater than California's average of 12.3%.

The percentage of San Bernardino residents that are affiliated with a religious congregation, 42.0%, is less than both the national and state average. Golden Avenue Church, Allen Chapel African Methodist Episcopal Church and Kingdom Hall of Jehovahs Witnesses are among the churches located in San Bernardino. The most prominent religious groups are the Catholic Church, the Southern Baptist Convention and the LDS (Mormon) Church.

San Bernardino is home to the Warm Creek Golf Course and the San Bernardino Public Golf Course as well as Plaza Park and Palm Field Park. Shopping malls in the area include Wildwood Plaza Shopping Center, Highland Avenue Plaza Shopping Center and Mountain Shadows Plaza Shopping Center. Visitors to San Bernardino can choose from American Inn, Best Western Hospitality Lane and American Tex-Chem Corporation for temporary stays in the area.