What is a Master Promissory Note?
A Master Promissory Note (MPN) is an agreement you sign to accept federal student loans. By signing it, you promise to repay your loans, along with any interest and fees, and agree to the terms of the loan.
The good news is you usually only need to complete the MPN once, and it can cover all your federal loans for up to 10 years (as long as you stay at the same school).
You'll complete an MPN when you accept federal Direct Subsidized, Unsubsidized, or PLUS Loans.
Note: To sign a Master Promissory Note online, you will need an FSA ID.