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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.

Daily Technical Strategist
GBPUSD

GBPUSD: Bullish Momentum To Target The 1.5308 Level.

GBPUSD: As a sharp rally saw the pair wiping out its corrective weakness from the 1.5127 level to close higher at 1.5161 on Thursday, risk of further strength is now set to extend towards the 1.5308 level, its May’10 high. This price action has resumed GBP’s nearer term uptrend started from its 2010 low at 1.4226 and paved the way for a run to the upside. Beyond the 1.5308 level will call for further strength towards its April 30’10 high/falling trendline at 1.5365/89 and then its April 15’10 high at 1.5521. Its daily RSI has turned higher supporting this view. Alternatively, on any pullback from the current price levels, we expect the 1.5127 level to serve as the initial support where a reversal of roles is expected to turn the pair higher again. Below there if seen will activate further weakness towards the 1.4872 level, its July 01’10 low followed by the 1.4685 level, its Jun 22’10 high.

Forex: GBP/USD reaches 1.5200 level
GBP/USD continues to trade higher on Friday, after a recent bullish burst lifted the British currency around 30 points. The upleg broke through 1.5200 area, thus setting a new 2-month high at 1.5213 zone. Current price stays at 1.5210.

The upside acceleration seems far from over as further upside exposure may be in the brewing. It took nearly 12 hours since the Asian session first opened, but after 2-failed attempts, the third extra push-up given in Europe materialized the break of an important hurdle at 1.5200

“Unfortunately the pair couldn't break below 1.4850 support and the overall uptrend was renewed, marking a new high at 1.5199. Further appreciation is to be expected, towards 1.5345 and probably 1.5524 resistance. Initial support is seen around 1.51+, but crucial for the uptrend is 1.5000 area”: said Stoyan Mihaylov at Delta Stocks.

EUR/USD
The pair quickly gained strength this European morning, currently trading at 1.2295. We expect some down correction now, but see the overall bidding mood intact for today, leading to the 1.2360 mark.

GBP/USD
Continuing its downtrend in early European trading, cable is priced right now at 1.4930 in a smaller up correction. We expect the market to hold above the 1.4900 mark today and reckon with prices around 1.4980 later in the day.

USD/CHF
In an undecisive market this European morning, the dollar is currently trading at 1.0702 against the Swiss franc. We see a sideways trend for today, between 1.0750 and 1.0700.

USD/JPY
After reaching lows near the 88.10 mark against the yen in Asian trading hours today, the dollar recovered slightly to now 88.35 in the European morning. We see an uptrend emerging today, leading to levels around 88.60.

Daily technical outlook
EURUSD

Trading strategy: small short at 1.2290, stop at 1.2360 (0.5% risk), 1st objective at 1.2230, 2nd objective at 1.2100

Support at 1.2150 came under pressure yesterday as the euro continued to pullback after breaking below 1.2250 which provided support last week. Short-term sentiment remains slightly bullish as the median retracement of 1.1875-1.2465 is still intact – around 1.2170. Not far below 1.2150 comes 1.2100 which is the next support to watch – formed by the 61.8% of mentioned up leg. More downside action is likely – as long as upside will be capped by 1.2300. Above 1.2300 – uptrend resumes. Current quote is 1.2220 @05:55 GMT

Support: 1.2150, 1.2100 and 1.2000
Resistance: 1.2250, 1.2300, 1.2360 and 1.2400
Market sentiment: long term – bearish, medium term – bearish, short term – slightly bullish, intra-day – bearish

Yen strengthen further, EUR/JPY on fresh 8 ½ - year low
JPY is displaying a notorious sweeping effect across the FX Market, smashing major currencies across the board. The Japanese typhoon shook off the market without making concessions at all. The currency is driven mostly by risk aversion on Europe debt concerns coupled with a faltering economic recovery.

Against its main rival, USD/JPY dipped down to 88.52, extending its 7 week low. EUR/JPY crushed nearly 200 pips to hit a new fresh 8 ½ year low at 107.80, not seen since November 2001. Current price is resting at 108.05, GBP/JPY also fell to 132.95 level, while AUD/JPY was sagged to 75.72, marking a fresh new 3-week low.

College students are usually too late to learn the difference between what their needs and wants are. Around 1.6 million individual bankruptcies have been filed in year 2003. That was up by 7.4% from the previous year. This has been found in the U.S. Courts' report and it suggested that many the majority of the U.S. adults has not yet grasped the idea of personal finance or the basics of it.

So it's not the wonder of the century that the majority of the college kids do not know the art of handling money either. While their parents want nothing but the best for them, they do not hesitate to provide what these young ones wanted. Unfortunately, fiscal responsibility at times gets lost in designer clothes, fancy piano lessons and high end cell phones.

Richard Boyum, a professor of counseling and psychology at the University of Wisconsin-Eau Claire, commented on this recently. According to him, typical college students more or less take money management seriously, but picks up a few common mistakes as well.

"There's a whole world of opportunities to expend money and many students are under the assumption that money is meant to be spent, rather than saved," Boyum says. "One day I saw one of my students showing off in brand a new and expensive looking jacket. She said the jacket's retail price is $200, but she got it somehow on sale and managed to 'save' $100. Then I said to her, 'Show me that $100.' And I explained that she hadn't saved the $100, she'd actually spent the $100! This analogy surprises most students, though."

Many young adults are troubled with their credit cards. To them, the credit limit is a juicy invitation to keep spending till it hits that limit. These people are considering it to be their own money. What Boyum tired to explain to his students is that credit always comes from a bank--not grandpa. Surprisingly enough, this ideal was like a wake up call for some students: Banks exist to make lots of money and consumers must pay thick interest on the balance when they've missed the deadline or due date.