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A repayment loan is common for students. They (hopefully) have the capability to pay back the money they borrowed after they graduated from their course and have found jobs to pay back their loan.

For non-students and unemployed, it is hard for them to find repayment loan since they don't have an income to pay back if they have their loan. Well say, there are some financial institution who offer loan to them but with high interest rate.

For this, the non student or unemployed have a hard time paying back because as they found a job, they are paying an interest rate for their repayment loan. Usually the problem in here is the term of repayment. The longer you find a work, the higher is your interest rate will be.

There are 2 modes of repayment loan, the unsecured and the secured. In unsecured, most of the lender or financial institution will just give you shorter terms and they can give you higher interest rate since it's just a short term and no collateral is needed, while in secured, you can avail or obtain large amount of money, longer in term of payment, low interest rate but with collateral which is a property or asset.

Although there are some programs for repayment loan given by the government but it has a condition as well as term but with low interest rate and provided that you are also a member of some group.

Here are some steps for you to know before you get a repayment loan:

* Think if it is really needed for you to get a loan. If you need a small amount, try to borrow from your relatives and friend and pay them back when you have the money.
* Plan it well, do some research since it is a good idea if you have some knowledge in regards to repayment loans. Is it wise to have a repayment loan or not.
* Get a free quote online through the internet and compare the interest rate and terms, do some window shopping which financial institution that offers best deal for your needs.
* Don't be in a hurry to jump on having a repayment loan. If possible, it is better to have a second opinion to someone who is close to you, your parents, elder brother or sister, relatives or friends.
* Always think or be aware that if ever you cannot pay back the money you borrow, what will be the outcome and the problem you will have.