Master Promissory Note (MPN): Will I Need to Complete a MPN Every Year?

Question: Will I need to complete a Master Promissory Note (MPN) every year?

Answer: In most cases, for Subsidized and Unsubsidized Loans, once you've submitted the MPN and it's been accepted, you won't have to fill out a new MPN for future loans you receive. You may borrow additional Federal Direct Loans on a single MPN for up to 10 years.

Note: Plus loans will require a new Master Promissory Note each year if you use an endorser.

Parent PLUS Loans - Additional information regarding Parent PLUS Loans can be found at Federal Direct Parent Loan for Undergraduates

Grad PLUS Loans - Additional information regarding Grad PLUS Loans can be accessed at Federal Direct Grad PLUS Loans

Note: The US Department of Education (ED) information pertaining to Federal Direct Parent PLUS Loans and Federal Direct Grad PLUS Loans can be viewed by selecting the following link: US Department of Education - Federal Student Aid