The degree should be in finance, economics, or a related field. However, for mortgage officers, training or experience in sales is more important. Employers also prefer applicants who are familiar with computers. Some loan officers work their way up through the ranks. They may have several years of work experience as a teller or customer service representative.
Educational requirements vary for loan counselors.
Some have a bachelors degree in economics, finance, or a related field. Accounting skills are very helpful. They gain a thorough understanding of the requirements for approval of loans. Some learn this through work experience in a related field. Like other workers, outstanding loan counselors can advance to supervisory positions.