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Business & Finance

Loan Officers

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.

Median salary (BLS)

$76,690

10th–90th percentile (BLS)

$39k – $153k

Job outlook

+2% (about average)

AI exposure

Early-career check: graduates of the matching programs below typically earn $112,000 ten years after starting college — an early-career figure, vs. the all-experience BLS median above. Source: U.S. Dept. of Education College Scorecard.

Plan a path to Loan Officers

Qualification costsStack incomeBest cities/statesSchool ROIJob-posting fitTailored resume

Education

Typical entry: Bachelor's degree

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How to qualify

Estimate

Cost to qualify

$40,500–$153,000

Time to qualify

4.5 yr

Renewal

—

  1. 1

    Bachelor's degree

    Degree

    Four years at public in-state rates — average published tuition & fees ≈ $11,610/yr, plus books. Private and out-of-state run higher; grant aid lowers most students' actual net price.

    $40,000–$150,000 · 4 years source

  2. 2

    Industry certification (optional for many roles)

    Certification

    Role-dependent — e.g. CPA, Series 7/65, PMP, SHRM. Not always required, but often expected for advancement.

    $500–$3,000 · 6 months source

Estimated typical U.S. route for "Loan Officers" — built from BLS education requirements and College Board 2024–25 average published prices (public, in-state tuition + fees + books). Not yet verified against a specific state's licensing rules — confirm with your state licensing board or program.

Typical progression

  1. Loan Officers Intern

    Internship

    $36,000

    ~4 mos to advance

  2. Junior Loan Officers

    Entry / Junior

    $39,430

    ~2 yrs to advance

  3. Loan Officers

    Established

    $76,690

    ~3 yrs to advance

  4. Senior Loan Officers

    Senior

    $114,935

Internships are a common on-ramp here — they speed up landing that first role and improve your odds, which is why the Safe and High-ceiling plans build one in.

Key skills

A typical day

  • •Meet with applicants to obtain information for loan applications and to answer questions about the process.
  • •Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
  • •Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
  • •Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
  • •Submit applications to credit analysts for verification and recommendation.

Fields of study

Any field

Top colleges for Business & Finance

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Reputation-based selection; stats shown are outcome data per school.