Military loans are similar to personal loans, except that they are designed to suit the lifestyle of military personnel. Through this type of funding, members of the armed forces can get a variety of loans at preferential rates. These include military consolidation loans, bad credit military loans, and military auto loans. It might also include military payday loans, which are short-term emergency funds, intended to cover unforeseen circumstances, such as bereavement, disaster relief, and convalescence and a VA loan, which guarantees home loans with no down payment. Military student loans are also available for students who wish to become military officers and need funding for their college education.