Master Promissory Note (MPN)

You must sign a MPN to receive a Federal Stafford Loan. If you continue to attend an eligible school and do not change lenders or servicers, you may be able to borrow subsequent loans for up to 10 years without signing another promissory note; however, you will be required to complete the FAFSA each year. Some schools may require you to sign a new MPN each year. Ask your school's financial aid office about its loan processing procedures.

Remember - read all applications and promissory notes carefully!