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What is an MPN and how does it work?

April 26, 2017MPN

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What is an MPN and how does it work?

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A Master Promissory Note (MPN) is the contract between you and the lender. By signing it you agree to the terms and conditions under which you are borrowing, including the repayment time frame. Signing the MPN is your last step for applying for a loan. Usually, your school’s financial aid office will send you an MPN when they notify you of your financial aid eligibility.