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Master Promissory Note

The Master Promissory Note is your agreement to repay your loan. If you are a first time borrower of Federal Direct Subsidized, Unsubsidized or PLUS loan you must complete the Master Promissory Note.  This process requires the borrower's FSA ID and password.

For assistance with applying for a new FSA ID, or password retrieval visit https://studentaid.ed.gov/sa/fafsa/filling-out/fsaid.

Instructions are provided below.

Estimated time to complete is 30 minutes

Instructions

REMINDER: The borrower is the one to sign in and complete the information.

  • Log into StudentAid.gov with your FSA information
  • Confirm Your Information (3 steps)
  • On the Account Dashboard click Complete Aid Process then select Complete a Master Promissory Note
  • From the Master Promissory Note page - select the appropriate MPN start button
    • MPN for Undergraduates (completed by the student)
    • MPN for Graduate/professional Students (completed by the student for Graduate PLUS Loan)
    • MPN for Parents (completed by the parent for Parent PLUS Loan)
  • Step 1. Information.  Update and verify all fields
    • Borrower Information
    • School to notify - Indiana State University!
    • Employer Information (Graduate/professional student & Parent MPN only)
    • Student Information (Parent MPN only)
  • Step 2. References - Mandatory two (2) references
  • Step 3. Agreements - 5 sections, read carefully
  • Step 4. Review and Edit
  • Step 5. Sign and Submit
  • Allow 3-5 business days for ISU to process your electronic MPN.  If you have questions, contact the Office of Student Financial Aid.

Frequently Asked Questions

Q. Do I have to do an MPN every year?

A. No. New borrowers are required to have an MPN at each school where they wish to borrow federal direct loans. If you are transferring to ISU, you will need to do a new MPN for Indiana State University.

Q. Do parents have to do an MPN?

A. Yes, new parent borrowers must complete a MPN. A MPN is an agreement to repay the loan; the borrower must sign the MPN! Make sure that the parent borrower who applied for the loan is the one signing the Parent MPN.

Q. I did this already. Why is my portal still showing that I need to do this?

A. The most common mistake when signing MPN documents is mixing up student and parent information. Students should sign for Federal Direct Subsidized or Unsubsidized loans, graduate students may sign for grad PLUS loans, and parents should sign for parent PLUS loans. Be sure that the right person is signing!

You should also double check that demographic information, such as date of birth, permanent address, and social security number match what was on the loan application. You can also call the loan servicer at (800) 557-7394 for help on the phone.

 

Master Promissory Note (MPN) Instructions

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