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Career and Education Opportunities for Loan Counselors in Olathe, Kansas

Loan counselor career and educational opportunities abound in Olathe, Kansas. 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.

A person working as a loan counselor can expect to earn about $15 hourly or $32,210 yearly on average in Kansas and about $18 hourly or $37,470 yearly on average in the U.S. as a whole. Compared with people working in the overall category of Accounting and Auditing, people working as loan counselors in Kansas 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 consultant, commercial lending vice president, and financial aid counselor.

There is one school within twenty-five miles of Olathe where you can study to be a loan counselor, among sixty schools of higher education total in the Olathe area. Loan counselors usually hold a Bachelor's degree, so it will take about four years to learn to be 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 Olathe 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.
  • 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.
  • 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.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Loan Counselor Training

Park University - Parkville, MO

Park University, 8700 NW River Park Dr, Parkville, MO 64152-3795. Park University is a large university located in Parkville, Missouri. It is a private not-for-profit school with primarily 4-year or above programs. It has 12,457 students and an admission rate of 78%. Park University has a bachelor's degree program in Finance and Financial Management Services, Other Specialties which graduated two students in 2008.

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: Olathe, Kansas

Olathe, Kansas
Olathe, Kansas photo by Ichabod

Olathe is situated in Johnson County, Kansas. It has a population of over 119,993, which has grown by 29.1% in the past ten years. The cost of living index in Olathe, 78, is well below the national average. New single-family homes in Olathe are priced at $315,000 on average, which is far greater than the state average. In 2008, three hundred fifty-two new homes were constructed in Olathe, down from five hundred ninety-nine the previous year.

The top three industries for women in Olathe are educational services, health care, and finance and insurance. For men, it is construction, professional, scientific, and technical services, and finance and insurance. The average travel time to work is about 21 minutes. More than 39.9% of Olathe residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 11.7%, is higher than the state average.

The unemployment rate in Olathe is 6.7%, which is greater than Kansas's average of 6.3%.

The percentage of Olathe residents that are affiliated with a religious congregation, 50.8%, is more than both the national and state average. The largest religious groups are the Catholic Church, the United Methodist Church and the Presbyterian Church (USA).

Shopping malls in the area include Twin Trail Shopping Center, East Gate Shopping Center and Gibson Shopping Center. Visitors to Olathe can choose from Microtel Inn Olathe, Sleep Inn Olathe and Grid Iron Sports Bar for temporary stays in the area.