 TITLE: Qualifying for Student Loans: What You Need to Know CONTENT: Types of Federal Student Loans\n------------------------------\nFederal student loans come in several different flavors. Here are some of the most common types you'll encounter:\n*   **Subsidized**: These loans are for undergraduate students who demonstrate financial need, and depending on a few factors, the amount you can borrow ranges from $3,500 to $5,500 annually. Currently, the interest rate is a fixed 5.05%, though it can vary based on the disbursement date. Subsidized loans don't start accruing interest until after you leave school.\n*   **Unsubsidized**: These loans can be used for undergraduate, graduate and professional school, and they're not based on financial need. Unlike subsidized loans, these do start accruing interest while you're still in school. For undergraduate students, the amount you can borrow also ranges from $5,500 to $12,500 per year, though graduate and professional students can borrow up to $20,500 annually. The interest rate is currently 5.05% for undergraduate programs and 6.6% for graduate or professional school.\n*   **Parent PLUS**: These loans can either be used by graduate or professional students, or the parents of dependent undergrads, for any education expenses not covered by other means of financial aid. While you don't need to show financial need, you do have to undergo a credit check. The interest rate for PLUS loans is currently 7.6%. END