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Loan Counselor Salary

The average pay for a Loan Counselor is $15.40 per hour. Most people move on to other jobs if they have more than 10 years' experience in this field.
$29,516 - $44,044
(Median)
$30K
$32K
$44K
MEDIAN: $32,150
10%
50%
90%

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$10.67 - $19.58
(Median)
$11
$15
$20
MEDIAN: $15.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$15K$30K$45K
Salary
$29,516 - $44,044  
   
Bonus
$0.00 - $9,787  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$26,342 - $43,237  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 22
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$11$22$33
Hourly Rate
$10.67 - $19.58  
   
Overtime
$0.00 - $32.00  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$22K$44K$66K
Bonus
$0.00 - $9,787  
   
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$26,342 - $43,237  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 25
United States (change)

Job Description for Loan Counselor

  • Calculate amount of debt and available funds in order to decide amount of monthly payments and length of payment plans.
  • Analyze applicants’ current and past financial status, credit, and property evaluations to determine possibility and ease of granting loans.
  • Refinance outstanding balance and negotiate repayment plans with the lender to avoid the borrower defaulting on the loan.
  • Counsel individuals struggling to pay loans or individuals who do not meet the prerequisites for traditional loans.
  • Service low risk and pre-foreclosure accounts and approve loans with specified limits.

Loan Counselor Job Listings

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Experience Affects Loan Counselor Salaries

Mid-Career
up arrow 4%

National Average
$32,000

Entry-Level
up arrow 1%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 7 votes.

Gender

Female
52 %
Male
48 %

Years of Experience

Less than 1 year
11%
1-4 years
60%
5-9 years
21%
10-19 years
4%
20 years or more
4%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 81%
vision benefits Vision: 64% employee benefits None: 8%