Financial Aid and Scholarships

Master Promissory Note

The MPN (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). There are two types of MPNs in the Federal Direct Stafford Loan Program: one for student loans and one for parent PLUS loans.

If you are a student borrower under the Federal Direct Stafford Loan Program and are attending a school that is authorized (and chooses) to make multiple loans under the same MPN for more than one academic year, you will only sign one MPN for student loans. It will be used for all of your Federal Direct Stafford Subsidized Loans and Federal Direct Stafford Unsubsidized Loans over multiple academic years. For example, if you enroll in college as a freshman and borrow under the Direct Loan Program for all years of study, you may be able to borrow under this one MPN for all years.

If you are a parent borrower under the Federal Direct Stafford Loan Program, whose child is attending a school that is authorized (and chooses) to make multiple loans under the same MPN for more than one academic year, you will only sign one MPN for parent PLUS loans. It will be used for all of your Federal Direct PLUS Loans for that particular child over multiple academic years.

Go here to sign your MPN

If you have further questions, check out the Federal Student Aid FAQ’s.

Kilian Community College