Financial Aid

Master Promissory Note

The Master Promissory (MPN) is a binding, legal contract between you and Federal Direct Loans. The MPN includes your promise to repay your loans, discloses the terms of your loans, and describes your rights and responsibilities as a Federal Direct Stafford Loan borrower.

To complete your MPN you will need to have the following:

Defaulting on Your Loan

What Does It Mean to Default On Your Loan?

When a student loan has gone into default, it means that the borrower has failed to make payments on time. This does not mean missing one or two payments. This means that you have failed to make payments for 270 days consecutively.