Type of Student Loans
There are four types of federal student loans:
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Stafford Loan
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.
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PLUS Loans
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.
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Consolidation Loans
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.
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Perkins Loans
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.
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Stafford Loans
PLUS Loans
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