How to become a loan officer
Process customers’ applications for loans or credit.
Pathways to this career
- Expand on your existing skills and increase employment opportunities by completing vocational qualifications in credit or financial management.
- Consider furthering your skills a with a Diploma in Credit Management or a related field.
- Apply for accreditation with the Australian Institute of Credit Management (AICM).
What does a loan officer do?
Duties and tasks
- Assist customers to apply for appropriate loans based on their needs and assist with personal financial circumstances and loan repayment.
- Determine whether a loan application should be accepted based on company standards and risk factors and authorise approval.
- Inform customers and provide documents outlining terms and conditions of loans, payment schedules and interest rates.
- Maintain records of payments, loan balances and overdue payments.
- Process loan applications and evaluate applicants' information based on credit scores, references and income to determine risk of applicant and whether they qualify for a loan.
- Send notices to customers of outstanding payments, taking legal action when necessary.
- Work with credit and financial entities to evaluate applicants' history and to give feedback on customers.
Industry bodies
Related jobs
- Accounting clerk
- Administrative assistant
- Bank manager
- Credit loan officer
- Customer service manager
- Customer service officer
- Financial planner
- Telephone consultant (banking)
Discover related degrees
PostgraduateUSQ-FIN-MAS
Delve deeper into the world of finance
Explore global markets, fintech, investor psychology, and more. Includes foundational business courses on leadership and economics. Take your business career to the next level with advanced knowledge in important finance concepts.
- Study method
- 100% online
- Duration
- 2 years full time or part time equivalent
Graduate Certificate in Business
PostgraduateUOC-BUS-GCE
Build a strong foundation in business
Develop practical business knowledge across key areas and learn how organisations operate. Interpret business information. Make informed decisions. Choose subjects to match your goals. Gain skills you can apply across a range of workplaces and industries.
- Study method
- 100% online
Graduate Certificate in Business Administration (Government)
PostgraduateUOC-BAG-GCE
Build your skills for working in government
Understand how programs and processes work in the Australian Government. Build practical skills to contribute effectively in public sector teams. Explore policy, legal frameworks, and budgets. Continue your study with a UC MBA.
- Study method
- 100% online
Graduate Certificate in Small Business Management
PostgraduateSCU-SBM-GCE
Launch, manage and grow successful small businesses
Learn business skills for the real world. You’ll cover finance, marketing, operations and innovation. This course equips you to tackle challenges and thrive in small business management. Lead your venture forward with confidence.
- Study method
- 100% online
Discover related subjects
UndergraduateLTU-FIN1FOF
- Study method
- 100% online
- Entry requirements
- No ATAR required. Start with a subject.
- Start dates
- Starts 12 Jul 2027
UndergraduateLTU-FIN1002
- Study method
- 100% online
- Entry requirements
- No ATAR required. Start with a subject.
- Start dates
- Starts 1 Mar 2027, 12 Jul 2027
Blockchain and Cryptocurrencies
UndergraduateLTU-CSE3BCC
- Study method
- 100% online
- Start dates
- Starts 12 Jul 2027
PostgraduateGRF-AFE723
- Study method
- 100% online
- Start dates
- Starts 2 Nov 2026, 1 Mar 2027, 1 Nov 2027
Next enrolment closes 25 Oct
Need help making study choices for your career?
Our student advisors will turn your aspirations into a clear study path.
They'll help you with:
- Choosing and enrolling in the right course for your desired career, including pathway options.
- Mapping a study plan that allows you to balance work and home commitments.
- Understanding eligibility for funding, including HECS-HELP loans.
Get unbiased advice at no cost today.
Looking for other ways to start the conversation? Contact us
Step up your career with these resources
5 of the best study paths to choose when you have kids
Want to find a career that pays well, but offers you the flexibility to be there for your family? Here are some of the best study options for parents who are craving better work/life balance.
Skip minimum wage with these high-paying entry-level jobs for uni graduates
Not all salaries are created equal, but with a university qualification under your belt, landing an entry-level role doesn't necessarily mean low pay. Is your dream job on this list?
What is an economist?
Economists can have a real impact on the wellbeing of others. Let’s take a closer look at this fascinating and important profession.
Will AI take my job?
Is AI taking over jobs? We do a deep dive into the impending age of AI and weigh up whether AI is really a risk to our jobs, or if the real issue is one of being left behind.