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.
more information on applying for student loans or to download an application,
check out StudentAid.gov.
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.
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.