A loan is a type of financial aid that requires repayment. Federal loans may be awarded to undergraduate and graduate students. Loans can be need-based or non-need-based, so financial need may not be required for some loan programs. Information included on the Free Application for Federal Student Aid (FAFSA) is used to determine eligibility for the Federal Perkins Student Loan, Federal Stafford Loans (Subsidized and/or Unsubsidized), Federal Parent Loan for Undergraduate Students (PLUS), and Federal Graduate PLUS Loans. Students also have the option to consider other Private/Alternative Loans for additional funding.