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Students must complete a Federal Stafford Loan Master Promissory
Note (MPN) prior to borrowing from the Federal Stafford Loan
Program for the first time. Unlike other loan applications,
the MPN
does not need to be completed each year as
it is a multi-year document. However, a previous borrower
may need to complete the MPN again if a significant amount
of time has passed since he/she last borrowed.
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Students who have applied for financial aid and have been
offered a subsidized or unsubsidized Federal Stafford Loan
may need to complete the Federal Stafford Loan Master
Promissory Note. If you have been offered a Stafford Loan,
please read the following instructions carefully in order
to determine if it is necessary for you to complete an MPN.
First-time Borrowers
If you have not previously borrowed from the Federal Stafford
Loan Program, you will need to select a
lender from the Preferred
Stafford Lender List and complete the MPN on your lender's website by following the links provided. You will also need to complete a Stafford
Loan Entrance Interview.
Previous Borrowers
If you have previously borrowed from the Federal Stafford
Loan Program but did not borrow a Stafford during
the prior academic year, you will need to complete a
new MPN. For instance, if you have been offered a Stafford
Loan for 2007-08 but you did not borrow a Stafford during
the 2006-07 academic year, you will need to complete
a new MPN. You do not need to select a new lender, however:
You should continue to use the same lender you used previously.
If you are uncertain who your lender was, please contact
a counselor in the Office of Financial Aid. If you are
not sure if you borrowed a Stafford during the prior
academic year, you can check your account on CAESAR.
If you did borrow from the Federal Stafford Loan
Program during the prior academic year, you do not need
to complete another MPN. Simply sign and return your award
notice to the Office of Financial Aid, indicating the amount
of Stafford you wish to borrow, and we will process your
Stafford Loan in that amount.
If you are uncertain as to which of the above categories
you belong, please check your Financial Aid "To Do"
Items on CAESAR.
Here you will be able to see if you are required to complete
an MPN and/or a Stafford Loan Entrance Interview.
If you have not applied for need-based financial aid but
are interested in borrowing an Unsubsidized Stafford Loan,
you must first complete a FAFSA
in order to determine if you have any subsidized eligibility.
Do not complete
the MPN until you have received an award notice indicating
your Stafford Loan eligibility.
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| The Federal
Stafford Loan Master Promissory Note should be completed online. Select a lender from the Preferred Stafford Lender List and follow the link provided to complete the MPN on your chosen lender's website. You must use the links provided to access the MPN online.
Note that the Master Promissory Note does not ask for a loan
amount or loan period. This is because it is designed to serve
as a promissory note for both current and future Stafford
borrowing. Each year, the Office of Financial Aid will process
your Stafford Loan for the amount which you have indicated you wish to borrow. You may notify us of your acceptance of the loan by signing and returning your Financial Aid Award Notice.
If a mid-year adjustment results in increased
Stafford eligibility after your initial loan has been processed,
you must confirm your acceptance of the additional amount
before we will process the increase.
If you wish to borrow from a lender that is not on the Preferred Lender List, you will need to complete a paper MPN and submit it to the Office of Financial Aid. Do not complete a paper MPN if you are selecting a preferred lender.
Click here to download the application:
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Federal Stafford Loan Master Promissory Note 
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You will need Adobe Acrobat Reader in order to view and
print this document, which is in Portable Document Format
(PDF). This free software is available for download from the
Adobe
website. |
| When completing the paper Federal
Stafford Loan Master Promissory Note, please follow
these instructions:
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USE INK!!!
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Complete the entire Borrower's Section (Items
1-17). For items that do not require a response, be sure to
carefully read the terms to which you are agreeing. Do not forget
to sign and date the form at the bottom. The Master Promissory
Note must be signed by the student. A parent signature
is not acceptable.
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You must fill in the Driver's License Number
(Item 6). If you don't have a driver's license, write "N/A".
Do not leave the field blank.
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You must fill in the Lender Name, Address
and Code (Items 8-9). If you have previously applied
for a Stafford you should continue to use the same lender, as
this facilitates repayment.
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Each of your References (Item 10) must have
a different U.S. address. A P.O. Box address may only
be used if mail delivery is in a rural area. This section must
be completed fully.
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Item 12 is applicable only to Unsubsidized Stafford Loan
amounts. Interest charges will begin immediately upon loan
disbursement, and must either be paid or capitalized (added
to principal). If you do not respond, your unsubsidized interest
will automatically be capitalized. This will increase your
total loan debt, as interest will accumulate upon interest.
This does not apply to any Subsidized Stafford Loan
amounts borrowed.
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Return your completed MPN to the Office of Financial Aid.
See Contact
Information for our address.
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For more information regarding the Federal Stafford Loan
Program, including loan fees and interest rates, please consult
Components
of an Aid Package - Loan Programs.
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