An education loan is a form of financial aid that must be repaid, with interest. (Scholarships, on the other hand, do not have to be repaid.)

Education loans come in three major categories:
student loans (e.g., Stafford and Perkins loans)
parent loans (e.g., PLUS loans)
and private student loans (also called alternative student loans).
A fourth type of education loan, the consolidation loan, allows the borrower to lump all of their loans into one loan for simplified payment.

Federal law sets the maximum interest rates and fees that lenders may charge for federally-guaranteed loans. Nothing prevents a lender from charging lower fees. Many lenders offer a variety of student loan discounts to attract borrowers.

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Here are some amounts that you can get from loan lenders like Sallie Mae:

Stafford Loan (government loan)
Loan limits
Dependent Annual loan limit
Freshman $3,500*
Sophomore $4,500*
Junior or senior $5,500
Independent Annual loan limit
Freshman $7,500*
Sophomore $8,500*
Junior or senior $10,500
Graduate or professional $20,500*

Undergraduate dependent lifetime limit $23,000
Undergraduate independent lifetime limit $46,000
Graduate or professional lifetime limit** $138,500

Ask if you can get a subsidized loan. This means that while you are in school, the government can pay the interest until the loan is due (about 3-6 months after you have completed your degree)
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This is the Perkins loan:

Loan limit
You may borrow up to the full cost of your child’s education less other aid received.

Interest rate
The interest rate for Parent PLUS loans first disbursed on or after July 1, 2006 is fixed at 8.5%.

Fees
There is a 3% origination fee charged by the federal government. Up to a 1% federal default fee is also charged.

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The best thing to do is to go the financial aid office @ your school and ask them for loans with the LOWEST interest rate.

Hope this helps!