In the U.S., there are several types of student loan providers: government and private. Federal and state governments provide the lion’s share of student loans in the country and offer the considerable advantage of being subsidized. This means that students are not required to pay interest on their student loans while they are still considered students. Therefore, the cost of public, subsidized loans is lower than those offered by the private sector. As a matter of fact, federal student loans have some of the lowest interest rates around and do not require cosignatories, simply proof of acceptance to an educational institution. For these reasons, more than 90% of student debt today is in the form of federal loans.