Best programs to become a loan officer
BLS lists a bachelor's degree as the typical entry-level education for loan officers. It also expects less than 5 years of related work experience. The fields of study that lead most directly to this job are Finance and Credit Management (IPEDS completions).
2 college programs at 753 schools train loan officers, graduating 49,447 people a year (IPEDS completions). The job pays a median of $76,690 (BLS OEWS May 2025).
About 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.
Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.
Read more on Wikipedia →Best programs to study to become a loan officer
Ranked by graduates per year (IPEDS completions). Graduate earnings and debt are College Scorecard figures for people who finished the program, reported at the 4-digit CIP level, so specializations within one field share a figure. That is a different measurement from the occupation-wide wages further down this page.
| # | Program | Graduates / yr | Share of pipeline | Schools | Grad earnings (1 yr) | Median debt |
|---|---|---|---|---|---|---|
| 1 | CIP 52.0801 | 49,441 | 100.0% | 753 | $53,572 | $23,672 |
| 2 | CIP 52.0809 | 6 | 0.0% | 3 | $53,572 | $23,672 |
Top 50 schools by graduates into this job
Counting every feeder program a school offers, not just its largest one.
| # | School | Graduates / yr | Top feeder program | Grad rate | Net price | Acceptance |
|---|---|---|---|---|---|---|
| 1 | Ohio State University - Main Campus Columbus, OH Public · 1 feeder program | 857 | Finance, General | 88% | — | 61% |
| 2 | CUNY Bernard M Baruch College New York, NY Public · 1 feeder program | 843 | Finance, General | 72% | — | 48% |
| 3 | Florida State University Tallahassee, FL Public · 1 feeder program | 735 | Finance, General | 86% | — | 24% |
| 4 | The University of Alabama Tuscaloosa, AL Public · 1 feeder program | 571 | Finance, General | 73% | — | 77% |
| 5 | Florida International University Miami, FL Public · 1 feeder program | 538 | Finance, General | 74% | — | 55% |
| 6 | University of Iowa Iowa City, IA Public · 1 feeder program | 538 | Finance, General | 75% | — | 84% |
| 7 | University of Georgia Athens, GA Public · 1 feeder program | 536 | Finance, General | 90% | — | 38% |
| 8 | Pennsylvania State University - Main Campus University Park, PA Public · 1 feeder program | 512 | Finance, General | 86% | — | 61% |
| 9 | Rutgers University - New Brunswick New Brunswick, NJ Public · 1 feeder program | 502 | Finance, General | 84% | — | 58% |
| 10 | Miami University - Oxford Oxford, OH Public · 1 feeder program | 469 | Finance, General | 80% | — | 75% |
| 11 | University of South Carolina - Columbia Columbia, SC Public · 1 feeder program | 462 | Finance, General | 79% | — | 60% |
| 12 | Arizona State University Campus Immersion Tempe, AZ Public · 1 feeder program | 460 | Finance, General | 68% | — | 90% |
| 13 | University of South Florida Tampa, FL Public · 1 feeder program | 457 | Finance, General | 77% | — | 43% |
| 14 | University of Arkansas Fayetteville, AR Public · 1 feeder program | 456 | Finance, General | 71% | — | 74% |
| 15 | The University of Texas at Austin Austin, TX Public · 1 feeder program | 433 | Finance, General | 89% | — | 27% |
| 16 | Tulane University of Louisiana New Orleans, LA Private not-for-profit · 1 feeder program | 429 | Finance, General | 86% | $33,106 | 14% |
| 17 | University of Houston Houston, TX Public · 1 feeder program | 427 | Finance, General | 65% | — | 74% |
| 18 | Texas A&M University - College Station College Station, TX Public · 1 feeder program | 422 | Finance, General | 84% | — | 57% |
| 19 | Auburn University Auburn, AL Public · 1 feeder program | 407 | Finance, General | 82% | — | 46% |
| 20 | University of Miami Coral Gables, FL Private not-for-profit · 1 feeder program | 405 | Finance, General | 84% | $26,589 | 19% |
| 21 | University of Central Florida Orlando, FL Public · 1 feeder program | 401 | Finance, General | 78% | — | 40% |
| 22 | Michigan State University East Lansing, MI Public · 1 feeder program | 390 | Finance, General | 81% | — | 85% |
| 23 | University of Massachusetts - Amherst Amherst, MA Public · 1 feeder program | 383 | Finance, General | 83% | — | 60% |
| 24 | Bentley University Waltham, MA Private not-for-profit · 1 feeder program | 382 | Finance, General | 87% | $31,677 | 45% |
| 25 | University of North Carolina at Charlotte Charlotte, NC Public · 1 feeder program | 380 | Finance, General | 69% | — | 80% |
| 26 | Clemson University Clemson, SC Public · 1 feeder program | 379 | Finance, General | 87% | — | 38% |
| 27 | Georgetown University Washington, DC Private not-for-profit · 1 feeder program | 378 | Finance, General | 95% | $22,242 | 13% |
| 28 | University of Maryland - College Park College Park, MD Public · 1 feeder program | 376 | Finance, General | 89% | — | 45% |
| 29 | Texas Tech University Lubbock, TX Public · 1 feeder program | 364 | Finance, General | 69% | — | 73% |
| 30 | Virginia Polytechnic Institute and State University Blacksburg, VA Public · 1 feeder program | 356 | Finance, General | 86% | — | 55% |
| 31 | The University of Tennessee - Knoxville Knoxville, TN Public · 1 feeder program | 353 | Finance, General | 74% | — | 42% |
| 32 | Southern New Hampshire University Manchester, NH Private not-for-profit · 1 feeder program | 347 | Finance, General | 43% | $34,565 | 100% |
| 33 | Florida Atlantic University Boca Raton, FL Public · 1 feeder program | 328 | Finance, General | 63% | — | 66% |
| 34 | University of Wisconsin - Madison Madison, WI Public · 1 feeder program | 328 | Finance, General | 90% | — | 45% |
| 35 | University of Florida Gainesville, FL Public · 1 feeder program | 314 | Finance, General | 91% | — | 24% |
| 36 | University of Notre Dame Notre Dame, IN Private not-for-profit · 1 feeder program | 307 | Finance, General | 95% | $19,452 | 11% |
| 37 | Grand Canyon University Phoenix, AZ Private not-for-profit · 1 feeder program | 306 | Finance, General | 43% | $21,535 | 79% |
| 38 | Texas Christian University Fort Worth, TX Private not-for-profit · 1 feeder program | 302 | Finance, General | 86% | $25,823 | 44% |
| 39 | University of Kentucky Lexington, KY Public · 1 feeder program | 299 | Finance, General | 71% | — | 93% |
| 40 | University of Delaware Newark, DE Public · 1 feeder program | 297 | Finance, General | 81% | — | 71% |
| 41 | University of Minnesota - Twin Cities Minneapolis, MN Public · 1 feeder program | 296 | Finance, General | 85% | — | 80% |
| 42 | University of Cincinnati - Main Campus Cincinnati, OH Public · 1 feeder program | 290 | Finance, General | 75% | — | 85% |
| 43 | Purdue University - Main Campus West Lafayette, IN Public · 1 feeder program | 281 | Finance, General | 83% | — | 50% |
| 44 | University of Illinois Urbana - Champaign Champaign, IL Public · 1 feeder program | 278 | Finance, General | 85% | — | 42% |
| 45 | Boston College Chestnut Hill, MA Private not-for-profit · 1 feeder program | 271 | Finance, General | 91% | $21,126 | 16% |
| 46 | The University of Tampa Tampa, FL Private not-for-profit · 1 feeder program | 271 | Finance, General | 64% | $33,070 | 40% |
| 47 | The University of Texas at Dallas Richardson, TX Public · 1 feeder program | 271 | Finance, General | 76% | — | 65% |
| 48 | Iowa State University Ames, IA Public · 1 feeder program | 266 | Finance, General | 75% | — | 89% |
| 49 | University of Washington - Seattle Campus Seattle, WA Public · 1 feeder program | 262 | Finance, General | 85% | — | 39% |
| 50 | Southern Methodist University Dallas, TX Private not-for-profit · 1 feeder program | 261 | Finance, General | 84% | $33,246 | 63% |
Fields of study that lead to this job
Grouped at the 4-digit CIP level, the tier our program pages are built on. Numbers are graduates per year.
What loan officers earn
What people already working in this job earn (BLS OEWS May 2025). Not graduate earnings.
Top-paying states
Top-paying metro areas
Job outlook
Bureau of Labor Statistics Employment Projections, 2024 to 2034.
Where the jobs are, state by state
Pick a state for in-state pay, the schools there, and the programs they run.
| State | Median pay | Jobs | Concentration | Schools | Graduates / yr |
|---|---|---|---|---|---|
| Texas | $66,370 | 21,200 | 0.85× | 52 | 4,576 |
| Florida | $71,090 | 18,830 | 1.07× | 33 | 4,152 |
| Ohio | $76,370 | 9,880 | 1.01× | 37 | 2,891 |
| New York | $95,710 | 10,840 | 0.63× | 48 | 2,406 |
| Pennsylvania | $69,300 | 8,140 | 0.76× | 49 | 2,391 |
| Massachusetts | $101,600 | 4,470 | 0.70× | 27 | 1,736 |
| Illinois | $79,150 | 10,890 | 1.01× | 32 | 1,556 |
| Michigan | $74,470 | 11,340 | 1.46× | 30 | 1,536 |
| New Jersey | $92,920 | 6,200 | 0.82× | 18 | 1,487 |
| Arizona | $62,160 | 10,020 | 1.75× | 6 | 1,452 |
| Georgia | $68,490 | 9,540 | 1.11× | 15 | 1,415 |
| Wisconsin | $78,290 | 4,940 | 0.95× | 23 | 1,386 |
| Alabama | $66,710 | 5,050 | 1.35× | 16 | 1,314 |
| North Carolina | $75,920 | 10,700 | 1.23× | 18 | 1,289 |
| South Carolina | $63,220 | 4,140 | 1.02× | 11 | 1,165 |
| Indiana | $72,960 | 4,790 | 0.85× | 22 | 1,125 |
| Utah | $59,440 | 3,990 | 1.30× | 10 | 1,037 |
| Iowa | $83,670 | 2,840 | 1.03× | 14 | 1,012 |
| Connecticut | $95,730 | 2,220 | 0.74× | 14 | 997 |
| Louisiana | $61,110 | 2,810 | 0.82× | 12 | 957 |
| Minnesota | $95,170 | 6,430 | 1.24× | 26 | 944 |
| California | $81,770 | 25,790 | 0.80× | 23 | 921 |
| Tennessee | $62,800 | 6,510 | 1.13× | 19 | 902 |
| Virginia | $78,320 | 8,790 | 1.21× | 15 | 871 |
| Kansas | $86,970 | 3,540 | 1.40× | 16 | 747 |
| Washington | $80,120 | 6,040 | 0.96× | 9 | 743 |
| Maryland | $73,580 | 3,850 | 0.79× | 7 | 713 |
| Arkansas | $70,260 | 2,610 | 1.14× | 12 | 654 |
| Kentucky | $62,090 | 3,940 | 1.12× | 11 | 640 |
| Missouri | $73,660 | 7,050 | 1.36× | 21 | 634 |
| District of Columbia | $92,890 | 370 | 0.30× | 5 | 633 |
| Oklahoma | $72,990 | 4,100 | 1.36× | 12 | 626 |
| Rhode Island | $77,250 | 1,290 | 1.45× | 8 | 597 |
| Delawaremoderate | $83,130 | 1,420 | 1.66× | 4 | 469 |
| Colorado | $94,520 | 3,230 | 0.64× | 8 | 459 |
| Mississippi | $60,260 | 3,450 | 1.68× | 7 | 413 |
| New Hampshire | $80,660 | 1,120 | 0.93× | 5 | 403 |
| Nebraska | $79,840 | 2,710 | 1.50× | 7 | 386 |
| Nevadalimited | $64,500 | 2,580 | 0.94× | 2 | 281 |
| Oregon | $94,440 | 4,220 | 1.22× | 5 | 280 |
| Idahomoderate | $71,070 | 2,030 | 1.34× | 3 | 212 |
| North Dakota | $84,650 | 1,370 | 1.81× | 5 | 188 |
| Hawaiilimited | $63,740 | 980 | 0.88× | 1 | 143 |
| Maine | $81,900 | 1,060 | 0.93× | 5 | 134 |
| West Virginiamoderate | $57,580 | 1,290 | 1.04× | 3 | 130 |
| Wyominglimited | $79,620 | 740 | 1.50× | 1 | 70 |
| South Dakotamoderate | $79,920 | 1,820 | 2.26× | 3 | 58 |
| New Mexicolimited | $62,610 | 1,140 | 0.74× | 2 | 35 |
| Montanalimited | $71,570 | 1,180 | 1.31× | 2 | 33 |
| Alaskalimited | $72,800 | 490 | 0.86× | 1 | 15 |
| Vermontlimited | $88,710 | 350 | 0.64× | 1 | 13 |
Skills and knowledge
From O*NET, the U.S. Department of Labor's occupational database. Importance is a 1 to 5 scale.
What they do day to 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.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Review and update credit and loan files.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
Skills
- Active Listening4.0
- Speaking4.0
- Reading Comprehension3.9
- Critical Thinking3.8
- Writing3.4
- Mathematics3.3
- Active Learning3.1
- Monitoring2.9
Knowledge areas
- Customer and Personal Service4.7
- Economics and Accounting3.9
- English Language3.8
- Mathematics3.7
- Sales and Marketing3.5
- Law and Government3.3
Abilities
- Written Comprehension4.0
- Oral Expression4.0
- Oral Comprehension4.0
- Written Expression3.9
- Near Vision3.9
- Inductive Reasoning3.8
Core activities
- Getting Information4.5
- Evaluating Information to Determine Compliance with Standards4.5
- Establishing and Maintaining Interpersonal Relationships4.3
- Processing Information4.3
- Analyzing Data or Information4.3
- Working with Computers4.2
How to get in
How to become a loan officer
- Typical entry education
- Bachelor's degree
- Work experience needed
- Less than 5 years
- On-the-job training
- Moderate-term on-the-job training
Most of these occupations require a four-year bachelor's degree, but some do not.
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Every major mapped to this job
The official federal mapping behind the rankings above.
All 2 majors mapped to Loan Officers2 of them graduated someone in the latest IPEDS year. NCES CIP 2020 → SOC 2018 crosswalk.+
- 52.0801Finance, General
- 52.0809Credit Management
Related careers
Jobs O*NET identifies as close to this one, with their own pay and outlook.
Common questions
What degree do you need to become a loan officer?+
BLS lists a bachelor's degree as the typical entry-level education for loan officers. It also expects less than 5 years of related work experience. The fields of study that lead most directly to this job are Finance and Credit Management (IPEDS completions).
Which college majors lead to becoming a loan officer?+
The fields of study that lead most directly to this job are Finance and Credit Management (IPEDS completions). In all, the NCES CIP-to-SOC crosswalk maps 2 programs to this job, which together graduate about 49,447 people a year.
How much do loan officers earn?+
The median is $76,690 a year (BLS OEWS May 2025). The middle range runs from $39,430 at the 10th percentile to $153,180 at the 90th. This is pay for people already working in the occupation, not the same thing as graduate earnings one year after finishing a degree.
Is demand for loan officers growing?+
BLS projects a +1.7% change in employment between 2024 and 2034, little or no change, with roughly 20,300 openings a year nationally once retirements and job changes are counted.
How many schools offer programs for this career?+
753 institutions reported graduates from at least one of the 2 programs that feed this occupation in IPEDS 2024-25. Rankings on this page use graduates per year, because the federal data publishes no enrollment count by program.
What other job titles do loan officers work under?+
Employers advertise this work under many names. O*NET records Loan Officer, Loan Counselor, Commercial Loan Officer, Financial Aid Counselor among the most commonly reported, all mapping to SOC 13-2072.
About the data on this page
Rankings use IPEDS completions 2024-25, degrees awarded per year. That is the closest federal measure of how many people a program puts into a career, because no federal dataset publishes enrollment by program. Wages and employment come from BLS OEWS May 2025, growth and openings from BLS Employment Projections 2024-34, and which majors lead to which jobs from the NCES CIP 2020 to SOC 2018 crosswalk. Occupation descriptions, tasks, skills and tools are O*NET 30.3 (CC BY 4.0, U.S. Department of Labor/ETA).
BLS Occupational Employment & Wage Statistics
May 2025Wages, employment counts, location quotients and metro breakdowns.
BLS Employment Projections
2024–34Projected growth, annual openings and typical entry-level education.
IPEDS Completions
2024-25 (provisional)Graduates per year by program and institution — the ranking metric.
College Scorecard, Field of Study
2020-21 cohortsMedian graduate earnings one year after completion, and median debt.
Census Post-Secondary Employment Outcomes
latest availableGraduate earnings 1/5/10 years out, where the state participates.
NCES CIP 2020 and the CIP-to-SOC 2018 crosswalk
CIP 2020 / SOC 2018Which college programs officially lead to this occupation.
O*NET Database 30.3
30.3Tasks, skills, knowledge, tools, job zone and alternate job titles.
Official source →CC BY 4.0, U.S. Department of Labor / ETA
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