College Loan Corporation Reviews

Current Employee – been working at College Loan Corporation full-time

Pros – very compliant in a world of great scrutiny, gives safe feeling of "doing right and doing well, too".
decisive, willing to change direction as needed.
loyalty pays off. you have to remain flexible and do what is asked of you.

Cons – sometimes role clarity is murky but patience is rewarded.
hard to fully understand decisions sometimes, but the results are very good.
very talented management team, sometimes too many talented people during slower times.

Advice to Senior Management – communicate even more.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Former Employee – worked at College Loan Corporation full-time for more than 3 years

Pros – Company paid very well. I was open 24/7 so you had the opportunity to work when you wanted as long as you meet your quota.

Cons – Management could be very cliquish and kept who they liked when they downsized and moved to Las Vegas.

Advice to Senior Management – Treat everyone the same.

Former Employee – worked at College Loan Corporation

Pros – The company provides excellent financial industry experience.

Cons – not understanding the overall direction and how well the company is doing.

Advice to Senior Management – more transparency is needed.

No, I would not recommend this company to a friend

Current Employee – been working at College Loan Corporation

Pros – 100% Employee Owned- ESOP Yearly Grants of Stock
Great Opportunities to grow career
Tuition Assistance
Flexible Scheduled- Work from home
Cutting edge Microsoft based systems- CRM, Loan Originations, SharePoint, TFS
Family atmosphere
Invested in each other and the community
Toy drives
Donations to local schools
Company Bonuses
Christmas Bonus from CEO

Cons – Smaller company
Conservative budget
Not funding new student loans

Advice to Senior Management – Hold more town hall meetings, provide updates on what senior management is doing to get the company back into business.

Yes, I would recommend this company to a friend

Current Employee – been working at College Loan Corporation

Pros – Good salary compared to many places
Some very good employees
Allows work from home for employees
Flexible working hours for employees

Cons – Management has no IT skill or experience
Almost everyone hired in the last year has quit
Management has no vision
Politics of a large company when they have around 60 employees
Reorganization occur every few months within the same groups of people
No communication between departments

Advice to Senior Management – The company is running out of quality employees. You need a vision and goals for your team. Your loan system is horribly buggy and hasn't been successfully tested in years. Make sure you can run the systems when you're back in business. And hire a real cto or vp for IT

No, I would not recommend this company to a friend

Former Employee – worked at College Loan Corporation

Pros – Cary Katz and the finance department seem to be knowledgeable and good to work with. Some departments are trying to make CLC a better work place.

Cons – Management lacks IT skill and experience
Of Development team 75% of staff has left in past year.
Management has no vision
Politics of a large company when they have around 60 employees
Reorganization occurs every few months within the same groups of people
No communication between departments
Inability to formalize requirements between business and application development.
The company is running out of quality employees. You need a vision and goals for your team. The loan system is horribly buggy and hasn't been successfully tested in years.

Advice to Senior Management – Get rid of the IT management infrastructure and get somebody who cares about I.T. to run the group. Treat the employees with more respect and recognize that I.T. employees have families and a life outside of CLC too!!
Make sure you can run the systems when you're back in business. Hire a different CTO and VP/Director for IT - preferably people who have a clue.

No, I would not recommend this company to a friend

Former Employee – worked at College Loan Corporation

Pros – Good work/family balance. Fair compensation. Up to date technology. Good BI Department.
Great people to work with. Management was openly communicative. I miss working there.

Cons – Very difficult legislative environment. Currently (as far as I'm aware of) not getting any business due to only servicing existing accounts, and not gaining any accounts. Honestly, it is hard to think of any negatives...the accounts will be around for a very long time.

Advice to Senior Management – I think the mgmt did as best as they could considering the situation that was presented to them when I worked there. I give them kudos for sticking through the hard times.

Yes, I would recommend this company to a friend

Former Employee – worked at College Loan Corporation

Pros – CLC is a great place to work with fair pay, good benefits and great work/life balance. The culture is also extremely relaxed, but fast paced.

Cons – Currently, the career growth potential at CLC is limited due to the current state of the economy and the student lending industry.

Advice to Senior Management – My advice to management is to continue focusing on your employees during this "down time" to ensure they are happy and will stick around for when things get better.

Yes, I would recommend this company to a friend

Current Employee – been working at College Loan Corporation

Pros – CLC has cut almost all of its bloat. There is significant access to Senior Management. The company is in a position to wait out the economic downturn, following which it has room for significant growth.

Cons – CLC is in trouble. Its financing has evaporated, although its asset base allows continued, long-term operation. Management decision-making is chaotic, long-term vision changes rapidly, commitment to the business model seems incomplete, and significant division exists between business areas. The majority of this company could disappear by the end of 2010.

Advice to Senior Management – The company has developed a tremendous portfolio at low cost. Its ability to continue to compete with other market players is limited, at best. Take what you've got and do something new.

No, I would not recommend this company to a friend

Former Employee – worked at College Loan Corporation

Pros – Excellent environment. Middle and upper management was supportive and give enough freedom. Promotion from within. Well executed training programs. Sales contests.

Cons – Needs technological advancement and more professionalism. Several wrong decisions put the company in jeopardy and caused several lay offs. Office was old, but heard that got relocated in more recent years.

Advice to Senior Management – Involving the marketing department in the thorough training that was dedicated to the loan consultants is a great way to increase the expertise. Would need to select its employees with more variety.