Good morning. I was hearing the other day about things I'm supposed to do ti repay my student loans and heard bout something called MPN, what's that?
Yes. MPN stands for Master Promissory Note and is a legal document in which you promise to repay your loans plus any accrued interest and fees to the U.S. Department of Education. Besides that main purpose, it also explains your loan's terms and conditions.
Oh isee, so it's a kind of written guarantee, isn't? So, That applies for any type of Loan?
That's right. A MPN can be related to both Subsidized and Unsubsidized Loans alike, which are available to eligible graduate or professional students.