Student must sign a new MPN if the lender changes or if the student transfers in from a Direct Lending school. Elimination of check-off boxes. Revised requested loan amounts. Control over loan amount, control over loan type, option to cancel loan. Borrower expresses amount they want to borrow for THIS academic period.
Student can leave the question blank.
If left blank, the lender will assume the student is requesting the maximum loan amount. The lender or guarantor is responsible for realizing if an MPN is already on file, not the school. Warren suggested that schools send out a declination statement to students to decline all or a portion of the loan. Mike Friedman suggested to use the entrance interview to educate students. Simplified loan process.