WHAT IS THE MASTER PROMISSORY NOTE? WHEN CAN SCHOOL START USING THE MPN?
Master Promissory Note (MPN) replaces the previous promissory note guidance in use prior to the issuance of Policy Memorandum 2004-2. If the school and borrower choose, it allows a school to enter into one note with a student(s) for his/her health professions academic career at the school. The MPN may be used for awards beginning July 1, 2004. 2. WHAT IS THE DIFFERENCE BETWEEN THE PROMISSORY NOTE WE HAVE BEEN USING FOR THE HPSL, PCL, LDS, AND NSL PROGRAMS AND THIS MASTER PROMISSORY NOTE (MPN)? OLD PROMISSORY NOTES (PN) NEW MASTER PROMISSORY NOTE (MPN) Replaces old Promissory Notes; effective July 1, 2004; MPN presented in larger print size PN could only be used on annual basis Provides option for MPN to be used for one or multiple years; additional text added to MPN to reflect optional use for multiple years No citations available Provides legislative, regulatory or other citation for each MPN requirement for easy reference Limited “Notice” to Borrower “Notice” expanded to include mult
Related Questions
- I have completed the Federal Direct Stafford Master Promissory Note (MPN). How do I request the dollar amount I want to borrow for the Federal Direct Subsidized and Unsubsidized Stafford Loans?
- Do I have to sign a Master Promissory Note (MPN) and complete an Entrance Counseling Session every year for the Federal loan programs?
- WHAT IS THE MASTER PROMISSORY NOTE? WHEN CAN SCHOOL START USING THE MPN?
