The Collaborative International Dictionary of English v.0.48:

Loafer \Loaf"er\, n. [G. l[aum]ufer a runner, Prov. G. laufer,
   lofer, fr. laufen to run. See Leap.]
   1. One who loafs; a lazy lounger. --Lowell.
      [1913 Webster]

   2. A type of shoe without laces which can be easily slipped
      on or off; -- originally a trademark; as, he bought a new
      pair of loafers.
      [PJC]

WordNet (r) 3.0 (2006):

loafer
    n 1: person who does no work; "a lazy bum" [syn: idler,
         loafer, do-nothing, layabout, bum]
    2: a low leather step-in shoe; the top resembles a moccasin but
       it has a broad flat heel

Moby Thesaurus II by Grady Ward, 1.0:

90 Moby Thesaurus words for "loafer":
   Arab, beach bum, beachcomber, beggar, bo, bum, bummer, cadger,
   clock watcher, dallier, dawdle, dawdler, diddler, dillydallier,
   do-nothing, dogie, dolittle, doodler, drone, faineant, gamin,
   gamine, gentleman of leisure, goldbrick, goldbricker, goof-off,
   guttersnipe, hobo, homeless waif, idler, laggard, landloper,
   lazybones, lazzarone, lingerer, loiterer, loller, losel,
   lotus-eater, lounge lizard, lounger, lubber, mendicant,
   mendicant friar, mendicant order, moocher, mope, moper, mudlark,
   panhandler, piker, potterer, putterer, ragamuffin, ragman,
   ragpicker, rounder, schnorrer, scrounger, shirker, ski bum, slouch,
   sloucher, slug, slugabed, sluggard, stick-in-the-mud, stiff, stray,
   street Arab, street urchin, sundowner, surf bum, swagman, swagsman,
   tatterdemalion, tennis bum, time killer, time waster, tramp,
   trifler, turnpiker, urchin, vag, vagabond, vagrant, waif,
   waifs and strays, waiter on Providence, wastrel