There are a number of different types of loafers out there. A few styles are fairly specific to men's shoes, like the Belgian or the monk-strap loafer, so for this guide, I focused on those geared more toward women — including penny, tassel, horsebit, kiltie, driving, slipper, and lug-sole loafers.

If you have a taste for sophistication and elegance, we recommend going for straight-leg jeans or cigarette jeans. A preppy combination would be by adding a blouse and layering it with a jumper vest on top. *Note, that when you wear jeans with loafers, make sure to pick a pair of jeans length that ends at the ankle.

Moreover, loafers can be worn for both casual and formal occasions, which makes them extremely versatile . Although loafers aren't considered formal footwear, they aren't entirely casual either. In fact, loafers are a hybrid of both and depending on the material they can either land in the formal or casual category.

The defining feature of the loafer is its lack of laces. This makes it easy to slip the shoe on and off even in a standing position. Along with its no-lace construction, the loafer also shows the following characteristics: Exposed ankle.