Getting a student loan is one of the most important decisions you will ever have to make. There are three basic Federal Student Loan programs available. The three basic Student Federal loans programs are: Perkins Loans, Stafford Loans, and PLUS Loans. First: Perkins Student Loans. Perkins loan are need-based with a 5% interest rate.



Students may borrow $4000 a year for undergraduate and $6000 for graduate studies. You don't have to pay off the loan until nine months after you leave school. Second: Stafford Student loans are low-interest loans for students studying on a part-time basis. Third: A PLUS Student loan stands for Parent Loans for Undergraduate Students. We provide access to free information and resources for Student Loans.