Master Promissory Note (MPN) 

FEDERAL PLUS LOANS

Signing the MPN electronically is the fastest and most efficient way of insuring that your loan funds will be disbursed to Albion College as quickly as possible.  If, however, you are unsure about using the electronic process, you may complete the application on-line and print a paper MPN or request one be mailed to you.  

Beginning in 2003-2004, the Federal Government implemented a Federal PLUS Loan Application and Promissory Note (PLUS MPN).  This PLUS MPN is designed for a parent borrower to use as a multi-year note for each dependent student.  Under this new process, a parent borrower will sign a PLUS MPN only once, at the time the parent first borrows for that dependent student.  The parent may then obtain additional loans for that same dependent based on that signed MPN, either during the same academic year or in subsequent years.  Each loan received under a  PLUS MPN is a separate and distinct loan, but will be part of the same loan portfolio.  The terms (interest rate, fees) applicable to each loan are dependent on the terms in effect at the time each loan is made.

The PLUS MPN will remain a valid document until any of the following occur :

• The borrower provides the lender with written notice that no further loans be disbursed under the MPN

• No disbursements are made within the first 12 months of the borrower signing the MPN

• 10 years after the date of the borrower's signature on the MPN

NECESSARY INFORMATION

The information you need to complete the online MPN is outlined below:

• Social Security number

• Driver's license state and number (if applicable)

• Email address (if you want to receive a confirmation email)

• Your complete US address including street or Post Office box, city, state, ZIP code, and phone number. Your complete foreign address including street or Post Office box, city, postal code, country, and phone number if applicable.

• Two personal references with different US addresses. The first reference should be a parent or legal guardian. You will need their name, address, city, state, zip code, phone number, and email address if applicable.

• Department of Education PIN (if you want to sign electronically).

LINKS

Your PLUS Loan Acceptance Form (PDF) asked you to select a lender. Follow the Servicer link directly above your selected lender to access your on-line MPN.

   View Lenders

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