Credit counselors
SOC Code: 13-2071Also known as:
Accredited Financial Counselor, Branch Credit Counselor, Certified Consumer Credit and Housing Counselor, Certified Credit and Housing Counselor, Certified Credit Consultant
Median Annual Salary
$50,480
+3.3% growth (2024-2034)
2K
Openings/Year
32K
Current Jobs
What Credit counselors Do
Advise and educate individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explain loan requirements or restrictions. May help develop debt management plans or student financial aid packages. May advise on credit issues, or provide budget, mortgage, bankruptcy, or student financial aid counseling.
💰 Salary
$50,480
Median annual wage (2024)
📈 Job Growth
+3.3%
As fast as average
🎓 Education
Bachelor's degree
Typical entry-level requirement
🚀 Annual Openings
2K
Projected average per year
📚 On-the-Job Training
Moderate-term on-the-job training
Expected training period
Employment Projections (2024-2034)
Current Employment (2024)
31,800
Projected Employment (2034)
32,900
Related Careers
Credit analysts
$80,970 •
-4.4% growth
Personal financial advisors
$102,140 •
+9.6% growth
Loan officers
$74,180 •
+1.7% growth
Credit authorizers, checkers, and clerks
$49,130 •
-6.2% growth
Loan interviewers and clerks
$48,950 •
-2.3% growth
Top Skills Required
Speaking
Reading Comprehension
Active Listening
Writing
Critical Thinking
Daily Tasks & Responsibilities
- Calculate clients' available monthly income to meet debt obligations.
- Explain services or policies to clients, such as debt management program rules, advantages and disadvantages of using services, or creditor concession policies.
- 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.
- Assess clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other 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.
- Interview clients by telephone or in person to gather financial information.
- Estimate time for debt repayment, given amount of debt, interest rates, and available funds.
- Prepare written documents to establish contracts with or communicate financial recommendations to clients.
Technology & Tools
📚 Entry-Level Education
Bachelor's degree
Most common requirement
🎯 Recommended Education
Bachelor's Degree
O*NET recommended level
Degree Programs for Credit counselors
These degree programs can prepare you for a career as a credit counselors:
Financial Planning and Services
5,773 degrees awarded •
84 colleges offer this program
Banking and Financial Support Services
992 degrees awarded •
78 colleges offer this program
Best Colleges for Becoming a Credit counselors
Ranked by Repit grade, then by degrees in related programs. These are the top-rated colleges that prepare students to become credit counselors.
Want this ranking as a spreadsheet? Investor Pro+ members can export any Repit table to CSV. See plans →
Frequently Asked Questions
How much do credit counselors make?
The median annual salary for credit counselors is $50,480.
What education do credit counselors need?
Most credit counselors positions require a bachelor's degree.
Common degree programs include Financial Planning and Services, Banking and Financial Support Services.
Is becoming credit counselors a good career choice?
Credit counselors is projected to see +3.3% job growth from 2024 to 2034,
which is about average for all occupations. With approximately 2,200 job openings expected annually,
there are good opportunities for those entering the field.
What are the best colleges for credit counselors?
Top colleges for aspiring credit counselors include
New York University, University of Wisconsin-Madison, University of Connecticut, Purdue University-Main Campus, University of South Florida.
These schools are ranked based on their Repit grade and the number of graduates in related programs.
What other job titles are similar to credit counselors?
Credit counselors may also be known as: Accredited Financial Counselor, Branch Credit Counselor, Certified Consumer Credit and Housing Counselor, Certified Credit and Housing Counselor, Certified Credit Consultant, Certified Credit Counselor, Consumer Credit Counselor, Credit Associate, Credit Balance Specialist, Credit Card Specialist, Credit Counselor, Credit Representative, Credit Review Specialist, Credit Services Representative, Credit Services Specialist, Credit Specialist, Credit Support Counselor, Credit Support Specialist, Debt and Budget Counselor, Debt Counselor.
These titles often refer to similar roles with varying responsibilities or specializations.