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Student Loans

The financial aid award letter you receive from a college or university will outline the types of financial aid for which you have qualified. The application process may vary depending on the type of loan you're seeking.

For more information on applying for student loans or to download an application, check out

Master Promissory Note: If you are taking out a subsidized or unsubsidized Federal Direct Loan, you must complete the Master Promissory Note (MPN) before your funds can be disbursed. If you have already signed an MPN, you may not need to sign another one. For some schools, you must sign an MPN each academic year. The MPN is your promise to repay and is a legal document. The MPN is normally sent to you by the college with your award letter materials.

PLUS Application/Promissory Note: If your parent wishes to take out a PLUS loan, there is a separate Master Promissory Note (MPN) to complete. It is called a Direct PLUS Loan Master Promissory Note. You must be a dependent undergraduate student for your parent to take out a PLUS loan on your behalf. The information about the PLUS Loan is often sent with the award letter. You may contact your college for more information.


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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.