If you have a financial background, you definitely have so many career options. However, if you want to leverage the opportunities in this industry, you have to look at the trends in order to make the right career move. One of the fastest growing careers in the financial sector is credit counseling and debt consultancy and this can provide a good platform to launch your career.
With more people stuck with student debt, this is a good area to specialize in. The Consumer Financial Protection Bureau says over 7 million people are in default of student loans and the situation is bound to get worse if there is no increase in jobs. A recent study shows that on average students have over 10 loans though some have more depending on how many semesters they spent in college.
In such an environment, everyone is looking for expert advice on how to handle student study debt. This is where you will come in as a specialist handling student loans. If you are looking for a new challenge in the financial sector, providing students help will not only boost your career but it is also fulfilling to see your clients get control over their finances.
Here are some qualities to leverage as a student debt consultant:
- Financial Expertise
If you are offering help in student loans, then you must understand the industry. You should have knowledge on both federal and private loans and how your client can consolidate them to better manage repayments. You should also have insight on different types of debt forgiveness available both from the government and private lenders.
- Solid Reputation
If you have been in the financial industry for long, you should have clients who can vouch for you. The best financial advisors get most of their clients from referrals. Make sure you create a portfolio of past clients in case a new client wants to confirm about your track record.
If you want to succeed as a student debt advisor, you must invoke trust and confidence. There are many scams out there and people are cautious about using financial consultants. You must inspire the client to understand what you are offering and the reason they need the service. While it is true a client can individually consolidate their loans without professional assistance, you need to explain about the risks involved. Explain how the process works and try to make the client trust you by being open.
A good financial advisor must be empathetic. You have to take time to listen to your client and understand their needs. While there are many options of student debt management, make sure you offer a solution that suits their unique financial needs. Take your time to explain the best way to deal with student debt in the simplest terms.
- Protective Nature
As a financial advisor on student debt, you must put the interests of your clients first. Always opt for a strategy or financial solution that will protect your client.
Camilla Jackson has over 18 years in the financial industry. She works with different loan providers as a consultant. Camilla also mentors people who would like to join this industry as consultants in areas such as student study debt.
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Daniel & David
5 Qualities of a Good Student Study Debt Consultant
Special Post Published: 12/31/16