Loan Information Center
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Do I Have to Sign an MPN Every Year?
Dear American Student Assistance:
I just applied on the FAFSA website for my fall 2010-2011 federal loans. My question to you is do I need to sign a Master Promissory Note (MPN) every time I apply or is the first one I signed for my summer 2010 session still good? I don't want to drop the ball and hold up anything as I am already doing the loan application late. Thank you!
You likely won’t need to fill out a new MPN every year, but you may have to fill out a new one this year. Do you remember if you previously applied for a Federal Family Education Loan Program (FFELP) loan or a Direct Loan (DL)? If it’s a Direct Loan, you are likely all set—you’ll just have to accept the aid package—if not, you’ll need to fill out a new one.
The FFELP program stopped making new loans July 1, 2010, hence the difference.