Most people can recall their college days when financial situation always seemed to be tight, and surviving on bare minimum was the norm. Tight financial conditions still prevail and students find it doubly difficult to deal with emergencies. Loans are offered by many financial institutions to help them out in the time of emergency. These are typically for a small amount and are approved quickly, making them a good resource. Many financial institutions specialize in instant loans, just like payday ones. These have an approval time ranging from 24 - 48 hours, and are very popular with the student population. Another reason they need financial assistance is when they want to get that all important car for their transportation needs. Car loans are also offered by many lending institutions as these are secured. Let us take a look at the different options available for them in the market today. Cash Loans Every student at one time or the other goes through a situation where an emergency cash requirement props up. The reason and the amount required can vary from person to person, but the need remains the same. With the traditional sources of acquiring loans requiring income proof and good credit rating, the option available for many of them is taking a cash loan. These are the equivalent of payday loans and have a high-interest rate. These are made available by lending organizations by filling up an online application form. The creditor will perform a background check before giving one. Credit history (if any), the applicant's identity, and background will be checked; academic background might be checked by some lenders. In some cases, a guarantor will be required for the approval of the same. Personal Loans Being an unemployed student with financial needs is a very difficult situation to be in, because there is little or no financial help available. Nowadays, however, there are lending institutions that provide personal loans to such individuals. These are mostly secured and are for a lesser duration; usually, the principal amount can be repaid in 1 - 6 months. Generally, one can pick the repayment plan, which is restricted to less than six months in most cases. To get such a loan, the lender might ask you to come up with collateral, like jewelry or car. The rate of interest is also calculated according to the amount granted, the value of the collateral, and the duration of the term. Car Loans Almost every student dreams of owning a car and these loans are making this dream come true for many of them. Most lenders give them out because, in case of non-payment of the amount, they can repossess the car and sell it to recover the amount. Some lending institutions will ask for a cosigner who has a good credit rating; students generally use a family member. The interest rate is not that high, and it is a good option for those looking to get their own set of wheels. Contacting the car manufacturer or dealer for availing the same is a much better option than getting one from a private lender. Thus, there are several ways of securing one; however, it is advisable to avail only in an emergency. Analysts point out that it is wise not to get stuck in a debt trap at such an early age especially, as students also have the added responsibility of studies.