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Can you take out a loan if you are unemployed?

Melissa Norris

in Student Loans

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Chelsea Hayes on June 17, 2018

In general, no, unless you can prove that there is some income which makes repayment possible. If you have hard assets (e.g., home, car, investments, etc), some banks provide a personal loan with one or more of the assets as collateral, however, most will have to indicate how you are going to pay the loan without a standard source of income.


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