Career and Education Opportunities for Loan Counselors in North Las Vegas, Nevada
North Las Vegas, Nevada provides a wide variety of opportunities, both career and educational, for loan counselors. About 290 people are currently employed as loan counselors in Nevada. By 2016, this is expected to grow 25% to about 360 people employed. 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.
Income for loan counselors is about $18 hourly or $38,800 per year on average in Nevada. Nationally, their income is about $18 hourly or $37,470 per year. Loan counselors earn less than people working in the category of Accounting and Auditing generally in Nevada and less than people in the Accounting and Auditing category nationally. People working as loan counselors can fill a number of jobs, such as: financial aid coordinator, lending services manager, and financial aid advisor.
There are nineteen schools of higher education in the North Las Vegas area, including two within twenty-five miles of North Las Vegas 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 North Las Vegas 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.
- 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
University of Nevada-Las Vegas - Las Vegas, NV
University of Nevada-Las Vegas, 4505 S Maryland Pky, Las Vegas, NV 89154. University of Nevada-Las Vegas is a large university located in Las Vegas, Nevada. It is a public school with primarily 4-year or above programs. It has 28,618 students and an admission rate of 73%. University of Nevada-Las Vegas has a bachelor's degree program in Finance and Financial Management Services, Other Specialties which graduated six students in 2008.
College of Southern Nevada - Las Vegas, NV
College of Southern Nevada, 6375 W. Charleston Blvd., Las Vegas, NV 89146-1164. College of Southern Nevada is a large college located in Las Vegas, Nevada. It is a public school with primarily 4-year or above programs and has 27,035 students. College of Southern Nevada has an associate's degree program in Banking and Financial Support Services which graduated five students 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: North Las Vegas, Nevada
North Las Vegas is situated in Clark County, Nevada. It has a population of over 217,253, which has grown by 88.1% in the past ten years. The cost of living index in North Las Vegas, 89, is well below the national average. New single-family homes in North Las Vegas cost $207,700 on average, which is well above the state average. In 2008, eight hundred thirty-four new homes were built in North Las Vegas, down from 2,365 the previous year.
The three most popular industries for women in North Las Vegas are accommodation and food services, arts, entertainment, and recreation, and health care. For men, it is construction, accommodation and food services, and arts, entertainment, and recreation. The average commute to work is about 27 minutes. More than 10.2% of North Las Vegas residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 3.3%, is lower than the state average.
The unemployment rate in North Las Vegas is 14.3%, which is greater than Nevada's average of 12.6%.
The percentage of North Las Vegas residents that are affiliated with a religious congregation, 36.2%, is less than the national average but more than the state average. The largest religious groups are the Catholic Church, the LDS (Mormon) Church and the Southern Baptist Convention.
North Las Vegas is home to the Craig Ranch Country Club and the Craig Road Speedway as well as Valley View Park and Highland Valley Park. Shopping malls in the area include Cheyenne Shopping Center and College Park Shopping Center. Visitors to North Las Vegas can choose from Starlite Motel, Holiday Inn Express Hotel & Suites and Texas Station for temporary stays in the area.