One can apply for personal loans for reasons like paying for college, making a down payment for a house, launching a business, emergencies, weddings, travel, paying for the necessities of life, or paying for pricy credit card debt. The personal loan should have a lower interest rate than your current debt to enable you to pay it off more quickly. online personal loans let you cover unexpected costs without depleting your savings as they follow a routine payment schedule. They provide the ability to combine high-interest loans and can also be used to pay for your wedding or a dream vacation.