Yes. MPN stands for Master Promissory Note and is a legal document in which you promise to repay your loans plus any accrued interest and fees to the U.S. Department of Education. Besides that main purpose, it also explains your loan's terms and conditions.
Oh isee, so it's a kind of written guarantee, isn't? So, That applies for any type of Loan?
That's right. A MPN can be related to both Subsidized and Unsubsidized Loans alike, which are available to eligible graduate or professional students.
Oh, i see. And that's just for those kinds of loans only?
No, you also have a MPN related to loans from the Direct Plus kind.
Are you clear about who have to pass through this?
No, i'm not so sure about it,
O.k that's fine, we'll just review that in a moment. Are you aware about the time needed to complete a MPN?
Yes, i heard that takes like an hour or so. IS that right?
Oh , by the way, can you tell me about what i need to go ahead with the MPN?