How to Certify a Master Promissory Note

A lender issues a master promissory note (MPN) when a borrower takes out a federal student loan. The promissory note is the borrower's acknowledgment that he is borrowing the funds and that he is responsible for repaying the loan. In addition to the terms and conditions of the loan and the borrower's responsibilities, the MPN also includes information about the borrower's rights. Certification of the MPN requires only the borrower's signature.

Instructions

    • 1

      Contact the federal student loan lender. Find out from the representative how the lender sends the MPN. Some lenders administer the MPN document through the financial aid office of the college or university you are attending. Other lenders send the document directly to the borrower.

    • 2

      Sign the MPN. It comes with the loan information already filled in. Review this information carefully to make sure everything is correct. If so, sign and date the note where indicated. If information is missing or incorrect, call the lender before signing the document. The lender will correct or complete the MPN and send you a corrected version to sign.

    • 3

      Submit the MPN to the federal student loan lender. if you sign the document in the financial aid office, the office will submit the promissory note to the lender. If the lender sends it directly to you, you need to return the signed note in the preaddressed envelope the lender includes when it mails the promissory note to you.

Learnify Hub © www.0685.com All Rights Reserved