Student loans come in several varieties in the United States, but are basically split into federal loans and private student loans. The federal loans, for which the FAFSA is the application, are subdivided into subsidized (the government pays the interest while the student is studying at least half-time) and unsubsidized. Federal student loans are subsidized at the undergraduate level only. Subsidized loans generally defer payments and interest until some period (usually six months) after the student has graduated. Some states have their own loan programs, as do some colleges. In almost all cases, these student loans have better conditions sometimes much better than the heavily advertised and expensive private student loans.