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What is an MPN?

April 26, 2017MPN

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What is an MPN?

2 Answers

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The MPN is the Master Promissory Note that you sign to promise to repay the student loan funds to the lender. You may sign the MPN electronically by going to: www.studentloanonline.com and creating an account. The MPN will cover all of the student loan disbursements for that lender for up to 10 years or until you request that your lender close it.

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A “Master Promissory Note” (or MPN) is a binding legal document you sign in order to get a student loan. It lists the terms and conditions under which you are borrowing, and the terms under which you agree to repay the loan. An MPN must be filled out if you are a first-time borrower, and if you choose to change lenders.