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What is the Stafford Master Promissory Note (MPN)?
The Stafford Master Promissory Note (MPN) is a multi-year or serial
loan feature of the Stafford program that allows the borrower to receive future Federal
Stafford Loans without completing and signing additional promissory
notes as long as the borrower:
- Remain eligible for Federal Stafford Loans*
- Continues to use the same lender for future loans
* To remain eligible the borrower must file the Free Application
for Federal Student Aid (FAFSA) each year, complete the Purdue
University Stafford Loan Request Form, and meet all Satisfactory
Academic Progress guidelines.
Beginning on July 1, 2000, all students receiving Federal
Stafford Loans were required to complete an MPN. Purdue University
utilizes the multi-year or serial loan option. By signing
only one promissory note, the delivery of student loan funds
will occur even faster because the time it takes for a promissory
note to be mailed, completed, and returned for disbursement
will be eliminated.
The Stafford Loan MPN Signature Process
Once a borrower has accepted their Stafford Loan in SSINFO and had Stafford Loan eligibility PROCESSED BY PURDUE UNIVERSITY, the borrower should receive instructions for the loan service provider on how to sign the MPN.
If a borrower has requested a Stafford Loan but not received notification that the loan has been processed by Purdue University, borrowers can check the status of loan requests at www.ssinfo.purdue.edu.
If you are a first-time Federal Stafford Loan borrower, have completed a Federal Stafford Loan Request Form and the request form has been processed, you should be ready to sign or e-sign a Master Promissory Note.
Sallie Mae Stafford MPN Electronic Signature Process (For the remaining 07/08 Academic Year Only)
If a borrower has chosen a Sallie Mae lender and Purdue has processed Stafford loan eligibility, the borrower should be able to electronically sign the note at the Sallie Mae Stafford Master Promissory Note website. If a borrower is unable to sign the MPN at this link, one of the following could be the reason:
- The borrower has already completed the initial MPN and therefore is not required to complete another MPN.
- The borrower did not go to this page in a timely manner; in these cases the MPN has already been mailed for completion.
- The borrower may have already accessed the MPN but did not print the form and request that it be mailed.
- Purdue University processed a Stafford request but the loan was not guaranteed/approved.
- The borrower may have chosen a lender that does not participate in this on-line process and a Stafford MPN application has been mailed along with a set of instructions to help you complete the process
Federal Direct Stafford MPN Electronic Signature Process (For the 08/09 Academic Year)
As of the 08/09 Purdue University is participating in the Federal Direct Loan Program. All students will have to sign a new promissory note. Students will use their FAFSA PIN to sign their promissory notes. The student can sign their electronic promissory note at www.dlenote.ed.gov.
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