The Federal Direct Student Loan may be borrowed by undergraduate students with financial need as determined by the Free Application for Federal Student Aid (FAFSA). The U.S. Department of Education pays the interest while you are enrolled at least half-time.
The Federal Direct Unsubsidized Student Loan may be borrowed by undergraduate, graduate, and professional degree students enrolled at least half-time. This loan is not based on financial need, and interest is charged while you are enrolled. You may choose to defer the interest, but if this option is selected, the interest will be capitalized (added to the principal amount). You are responsible for paying the interest that accrues while attending school and during the post-enrollment grace period.
Parents may borrow the Federal Direct Parent PLUS loan from the federal government to help pay the educational costs for their dependent undergraduate children, more information here.
PLUS loans are federal loans that graduate or professional degree students may use to help pay for educational expenses. The U.S. Department of Education makes Direct PLUS Loans available to eligible borrowers, more information here.