Master Promissory Note
- A Master Promissory Note (MPN) is a legal document affirming that you understand that you must repay the amount borrowed plus any interest that may accrue
- It is valid for up to 10 years from the date the note is signed, which eliminates the need to sign a note each time an additional amount is borrowed. Typically only one MPN is required for the duration of the student’s studies at our university
- If you accept a Federal Direct Loan you must complete an MPN for each type of loan used
- Both you and your parents, in accepting a Parent PLUS loan, must complete a separate MPN
- A typical MPN asks for:
- Name, address, and social security number
- Two references (including their names, addresses, telephone numbers and relationship to the borrower)
- A ‘signature’ for the online MPN; the 4-digit PIN number that was assigned when you initially applied for Federal Student Aid
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