College Loan Corporation Reviews | Glassdoor

College Loan Corporation Reviews

Updated February 6, 2017
15 reviews

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3.6
StarStarStarStarStar
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Cary Katz
11 Ratings

15 Employee Reviews

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  1. Helpful (1)

    "A very fair and balanced employer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Las Vegas, NV
    Former Employee - Anonymous Employee in Las Vegas, NV
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at College Loan Corporation full-time (More than 5 years)

    Pros

    This company rewards only its most ethical, dependable and self directed employees. My years of service were handsomely rewarded and I felt deeply respected by management.

    Cons

    No true path for upward mobility is offered to current employees. The economic downturn along with a government takeover of the student loan industry has left this company with a bare bones staff who are lucky just to have a job in this industry.

    Advice to Management

    The annual review process lacked any true depth and it seemed to be just an exercise designed to appease upper management.


  2. "Loan coordinator"

    StarStarStarStarStar
    Former Employee - Loan Coordinator in San Diego, CA
    Former Employee - Loan Coordinator in San Diego, CA

    I worked at College Loan Corporation full-time (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 Management

    Treat everyone the same.

  3. Helpful (1)

    "working for a dysfunctional company, without clear vision."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Diego, CA
    Former Employee - Anonymous Employee in San Diego, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    The company provides excellent financial industry experience.

    Cons

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

    Advice to Management

    more transparency is needed.


  4. "Employee Owned Company, Invested in One Another, Family atmosphere"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Las Vegas, NV
    Current Employee - Anonymous Employee in Las Vegas, NV
    Recommends
    Approves of CEO

    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 Management

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


  5. Helpful (2)

    "CLC - the Job to avoid"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Las Vegas, NV
    Former Employee - Anonymous Employee in Las Vegas, NV
    Doesn't Recommend
    No opinion of CEO

    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 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.


  6. Helpful (1)

    "Horrible Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Las Vegas, NV
    Current Employee - Anonymous Employee in Las Vegas, NV
    Doesn't Recommend
    Disapproves of CEO

    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 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


  7. Helpful (1)

    "Was a good place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Software Engineer in San Diego, CA
    Former Employee - Software Engineer in San Diego, CA
    Recommends
    Approves of CEO

    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 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.

  8. Helpful (1)

    "Great place to work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Diego, CA
    Former Employee - Anonymous Employee in San Diego, CA
    Recommends
    Approves of CEO

    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 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.


  9. "Current a tough proposition"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in San Diego, CA
    Current Employee - Anonymous Employee in San Diego, CA
    Doesn't Recommend
    No opinion of CEO

    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 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.


  10. "Great Company and leadership"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Fair pay and motivating work environent

    Cons

    Unclear on direction or future of company.


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