Master Promissory Note. A Master Promissory Note is a promissory note that can be used to make one or more loans for one or more academic years (up to 10 years). See Promissory Note.
This is the legally binding contract between the borrower and the lender of a Federal Stafford Loan. By signing the MPN, the borrower agrees to all terms and conditions, including the responsibility to repay all borrowed funds along with any interest and fees that are charged. Unlike other promissory notes where only one loan can be borrowed per signed note, the MPN may be used by the school to make multiple Federal Stafford Loans to a borrower using the single note for up to a 10 year period.
Master Promissory Note. A contract borrowers sign when taking out either subsidized or unsubsidized Stafford Loans. When submitting the MPN to LRP, you are required to include the attachment that lists loan amounts and dates for all disbursements. For students who attended four-year or graduate schools, the MPN also covers Stafford Loans for future enrollment periods at the same school within a 10-year period. See “Stafford Loans.
Master Promissory Note. The promissory note that a student signs when taking out a Stafford Loan. The MPN covers all Stafford loans that the student may receive for the future enrollment periods.
Master Promissory Note. A legally binding contract that obligates you to repay a loan. A signed Federal (MPN) may allow you to borrow additional loans, based on the same MPN, each year, for up to ten years. This eliminates the need to complete a new loan application each year, provided you borrow again within twelve months. Whether you receive loans under an MPN for only one academic period (or for multiple academic period) depends on the school you are attending.
Master Promissory Note. A legally binding document between the borrower and the lender that obligates him or her to repay the loan according to its terms.
Master Promissory Note. The Master Promissory Note (MPN) is a multiple year, multiple loan promissory note for the Federal Direct Loan Program. All other loan programs require single year, single loan promissory notes.
Master Promissory Note): is a multi-year legal document obligating the borrower to repay the loan. Most borrowers will sign the MPN only once.
Master Promissory Note. Master Promissory Note refers to the revised promissory note which the Department of Education has authorized to be used with Stafford loans beginning 7/1/1999. It allows lenders to use a single MPN instead of requiring borrowers to sign a new promissory note for additional advances.
Master Promissory Note. is a binding, legal document that you must complete to apply for your student loan. As a new borrower, your MPN will be mailed directly from New York State Higher Education Services Corporation (NYSHESC) after you receive your Financial Aid Award Notice. By signing the MPN, you are allowing SU to award your student loans for multiple years based upon that one application. You should only need to complete one MPN during your educational career at SU.
Master Promissory Note. A contract between the student and the lender promising to repay the loan and adhering to the terms and conditions of the loan.
Master Promissory Note. A promissory note under which the borrower may receive loans for either a single period of enrollment or multiple periods of enrollment.
Master Promissory Note. A promissory note is the legal agreement a student signs with a lender accepting student loan funds. The MPN states the terms and conditions of the loan, including repayment schedule, interest rate, deferment policy, and cancellations. The MPN is a simplified method of applying for and receiving Federal Stafford Loan funds.
Master Promissory Note. The promissory note a student signs when taking out a Stafford Loan. The MPN can serve as a multi-year or "serial" promissory note, under which multiple loans may be made without requiring additional promissory notes for future enrollment periods.
Master Promissory Note. The promissory note you sign when taking out a Stafford Loan. The MPN essentially opens a line of credit for education expenses during your academic career. When you sign a Federal Stafford promissory note, a binding legal document, you promise to repay your student loans. The note also includes important language about your rights and responsibilities as a borrower. The Master Promissory Note covers both the Subsidized and Unsubsidized Stafford loans you may receive.
Master Promissory Note. Application for the Federal Stafford Loans. One promissory note is signed for all loans borrowed while attending the same 4-year institution. The MPN is valid for 10 years.
Master Promissory Note. A contract the student signs when taking out a Stafford loan. The Master Promissory Note is used for the subsidized and unsubsidized Stafford loans the student may receive for the same enrollment period. If the student is attending a four-year or graduate school, the Master Promissory Note also covers subsidized and unsubsidized Stafford loans the student may receive for future enrollment periods.
Master Promissory Note. A legally binding loan agreement a borrower signs to promise to repay the loan, with interest, in periodic installments. The note may be signed in writing or electronically. A borrower may receive multiple loans under the same master promissory note. Also see "Promissory Note."
Master Promissory Note. A legally binding document between you and your lender indicating the conditions and borrower obligations of a loan. The MPN is a multi-year note, allowing the borrower to complete the note once and to borrow in subsequent years without completing an additional note.
Master Promissory Note. An MPN is an agreement the borrower signs that legally binds him to pay the loan, with interest, in periodic installments.
