Abstract: The subject of this research is the current system of student loans in the United States. The author analyzes major federal programs for students, types of loans, loan service plans, conditions for receiving scholarship for education. Special attention is given to the specificity of formation of student loan funds of higher educational institutions, and effective system of supervision and control over the parties to the program by the Department of Education that represents government interests. The research employs the dialectical method of cognition, as well as general scientific methods of analysis, synthesis, analogy, etc. The following conclusions were made: the established in the United States system of student loans is sufficiently effective; despite ample opportunities for receiving quality higher education for those born into wealthy families, the United States student loan system affords an opportunity for receiving higher education to the representatives of all social groups.