Student loans are a booming business in the United States, but they are also complex. Many students rely on student loan counselors to help them understand the terms of their loan, the repayment options, and what to do if they get into trouble. Student loan counselors help students navigate the responsibility of a student loan.
What Do Student Loan Counselors Do?
Student loan counselors help students understand and meet the repayment terms of their student loans. Often, these professionals are responsible for helping borrowers who face some sort of financial trouble, like the loss of a job. By providing guidance and advice, student loan counselors may be able to help borrowers work out a payment plan that prevents them from defaulting on their loan.
To complete this goal, student loan counselors collect information, verify its accuracy, communicate with borrowers, provide information and guidance, and serve as a connection between a loan servicer and the individual borrower. They also collect information on borrowers, such as their track record of paying on their loans, and share it with certain approved entities, like colleges and the federal government.
What Background Do I Need to Become a Student Loan Counselor?
Many employers seek student loan counselors with a two-year college degree in business or a related area of study. Some will accept experience in customer service instead of a degree.
The ability to use computer programs like Excel spreadsheets effectively is a must. Student loan counselors should be able to retain and track information quickly and communicate effectively with people from many different walks of life. Attention to detail, strong listening skills, and working well to a deadline all help student loan counselors succeed in their work. The ability to keep information confidential is a must, as many pieces of student loan information are protected by state or federal confidentiality laws.
Where Can I Find a Great New Job as a Student Loan Counselor in Eden Prairie?
If working as a student loan counselor in the Eden Prairie area interests you, contact THE RIGHT STAFF, LLC today. Our recruiters can help you connect to open positions in this field, as well as to a host of other promising career options in Minnesota.