Type of Student Loans
There are four types of federal student loans:
Subsidized and unsubsidized loans for eligible students to help pay for higher education at a four-year college or university, community college, trade, career, or technical school.
Loans taken out by graduate or professional degree candidates and parents of dependent undergraduate students to help pay education expenses not covered by other financial aid.
Fixed-rate loans combine all your eligible federal student loans into a single loan with one monthly payment. Direct PLUS Consolidation Loans also include Parent PLUS Loans and grad PLUS Loans. You can consolidate your eligible federal student loans into a Direct Consolidation Loan through the William D. Ford Federal Direct Loan Program.
Low-interest loans available to undergraduate and graduate students with exceptional financial needs. Funds are limited, so not all students who qualify will receive a Perkins Loan. You may be able to consolidate your Perkins Loan into a Direct Consolidation Loan. Or, if you work in specific public-service jobs, you may qualify for loan forgiveness after making 120 monthly payments on your Perkins Loan.