What is a Master Promissory Note?
The student loan process just got easier thanks to a form called a "Master Promissory Note (MPN)." It is a legal document you sign the first time you borrow student loan funds through the Direct Loan program at CSUN. It is your legal promise to repay all the funds you may receive. In most cases, you only need to sign this document once for all the years you borrow while in school. You will need to sign a new MPN if you attend a school that uses other types of the MPN. (See more below.)
You must sign your MPN electronically by visiting the Department of Education at
How does the MPN make the student loan process easier for me?
The MPN essentially opens a line of credit with the Department of Education for education expenses during your academic career. By signing the MPN, you're agreeing to repay the loan under its terms and conditions. That means you can get additional Federal Stafford loans throughout your academic career without submitting additional promissory notes.
Once I sign the MPN, how long is it good?
Your MPN is good for 10 years from the date you sign it. However, you might have to complete a new MPN if transferring to a new school. Remember, you still must complete a Free Application for Federal Student Aid (FAFSA) for all of your subsequent loans.
What is my National ID Number?
Your National ID Number is your Social Security Number (SSN).
Can I keep track of my student loan debt?
Absolutely. Taking an active role in understanding your student loans will help ensure that you borrow no more than you need. The Department of Education, Lenders and schools are required to keep you informed about your debt, your eligibility for more loans, and how much and when new loan funds are added to your account. You also have the opportunity to decline all or part of a new loan and to opt out of the serial loan process entirely. To view all your student loan debt, go to the National Student Loan Data System website at http://www.nslds.ed/gov/nslds_SA.
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