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Financial Aid / Loan Counselor

168

Statewide
Job Postings
223rd

Out of 439
Jobs In-Demand
320

Currently Employed
in Indiana
$16.46 - $20.96

Avg. Hourly Wage
Indiana
$17.10 - $27.15

Avg. Hourly Wage
USA
map Region 1 Region 2 Region 3 Region 4 Region 5 Region 12 Region 6 Region 7 Region 8 Region 9 Region 10 Region 11

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Financial Aid / Loan Counselor - Indiana Regions Overview:

The graph above shows that there were 168 job postings for the occupation of Financial Aid / Loan Counselor in Indiana during 2013 and 2014. The vertical bar chart shows which regions had the most demand for Financial Aid / Loan Counselor. These numbers represent current demand as advertised in online job postings and do not necessarily indicate projected job growth in the future. Nevertheless, these numbers are a valid barometer for gauging recent job demand statewide and regionally in Indiana.

Top 3 Certifications

There are not any certifications requested by Indiana employers for this occupation.
To view certifications requested for this occupation on a national level, go to mynextmove.com

What Financial Aid / Loan Counselor Do:

Advise and educate individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explaining loan requirements or restrictions. May help develop debt management plans, advise on credit issues, or provide budget, mortgage, and bankruptcy counseling.

Common Job Activities:

  • Assess clients' overall financial situation by reviewing income, assets, debts, expenses, credit reports, or other financial information.
  • Calculate clients' available monthly income to meet debt obligations.
  • Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
  • Prioritize client debt repayment to avoid dire consequences, such as bankruptcy or foreclosure or to reduce overall costs, such as by paying high-interest or short-term loans first.
  • Interview clients by telephone or in person to gather financial information.
  • Recommend strategies for clients to meet their financial goals, such as borrowing money through loans or loan programs, declaring bankruptcy, making budget adjustments, or enrolling in debt management plans.
  • Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
  • Advise clients on housing matters, such as housing rental, homeownership, mortgage delinquency, or foreclosure prevention.
  • Prepare written documents to establish contracts with or communicate financial recommendations to clients.
  • Explain services or policies to clients, such as debt management program rules, the advantages and disadvantages of using services, or creditor concession policies.
  • Disburse funds from client accounts to creditors.
  • Maintain or update records of client account activity, including financial transactions, counseling session notes, correspondence, document images, or client inquiries.
  • Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
  • Refer clients to social service or community resources for needs beyond those of credit or debt counseling.
  • Estimate time for debt repayment given amount of debt, interest rates, and available funds.
  • Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or to set up payment plans.
  • Recommend educational materials or resources to clients on matters such as financial planning, budgeting, or credit.
  • Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.
  • Create action plans to assist clients in obtaining permanent housing via rent or mortgage programs.
  • Teach courses or seminars on topics such as budgeting, managing personal finances, or financial literacy.
  • Explain loan information to clients, such as available loan types, eligibility requirements, or loan restrictions.
  • Conduct research to help clients avoid repossessions or foreclosures or remove levies or wage garnishments.
  • Investigate missing checks, payment histories, held funds, returned checks, or other related issues to resolve client or creditor problems.

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