Master Promissory Note for Federal Direct Loans
The Master Promissory Note (MPN) is a legal and binding document in which you agree to repay your student loan. Under this note, you may receive multiple subsidized and unsubsidized Federal Direct loans over a maximum of 10 years. The advantage of using the MPN is that a new promissory note will not need to be signed for each new loan. The Master Promissory Note must be completed with the Department of Education for all students who have never received a Federal Direct Loan before.
Entrance Loan Counseling for Federal Direct Loans
Before receiving a student loan, first-time borrowers must complete Entrance Loan Counseling (ELC) with the Department of Education. This quick and easy interactive counseling session provides useful tips and tools to help you develop a budget for managing your educational expenses and helps you to understand your loan responsibilities.
Complete your on-line ELC as well as your MPN here!
