 TITLE: What Is a Short-Term Personal Loan? CONTENT: Drawbacks of Short-Term Loans\n-----------------------------\nShort-term personal loans can provide quick cash, but often at a price. Disadvantages of these loans include:\n*   **High interest rates**: Short-term personal loans typically carry higher interest rates than longer-term loans. If you take out one of these loans, you may incur not only high payments but also a large total loan cost.\n*   **Costly fees**: High fees for late payments, origination and other things can quickly add up, making your short-term personal loan costs skyrocket.\n*   **Not a long-term solution**: While a short-term personal loan can help you in a dire situation when you're short on cash, because of its cost and sometimes onerous terms, it's not a long-term solution to your financial hardships. END