There are many types of loans to choose from when we are in a financial emergency. Mainly they fall into 2 categories: secured and unsecured loans. In this article, I will compare 2 secured loan types, a short-term and a long-term one. Auto title loans in Sacramento are secured loans using your car as collateral. No bank account, no good credit history or employment is required to apply for this kind of loan. It’s a short-term loan, and most lenders finish making payments in a year’s time. On the other hand, student loans are long-term loans for college students to help them pay the tuition fees. This kind of loan comes in 2 types: federal and private student loans. The main difference is in the repayment terms. The former one can be paid after college thus not putting pressure on students. In the latter, repayment has to start during college years which is why students have to work during their studies.