okay. Could you also tell me what a master promissory note is?
Of course The Master Promissory Note MPN is a legal document that promises to pay your loan and accrued interest and fees to the US Department of Education.
What if I'm a graduate student already?
Find and use the MPN you need as a graduate or professional degree student to obtain federal student loans. Graduate / professional students may be eligible for unsubsidized direct loans, direct PLUS loans, or both. You must complete an MPN for each type of loan you want to receive.