How to Complete Your Master Promissory Note


This video will review the necessary
steps to complete a master promissory note or MPN. A valid MPN is required for
student borrowers as well as parents borrowing a Parent Plus Loan before any
accepted aid can disburse to the students bill. It is the legal document
you complete in which you promise to repay your loans and any accrued
interest to the Department of Education. The MPN also outlines the terms and
conditions of each loan. Use your FSA ID to log into www.studentloans.gov. On the
home page click on the link “Complete a Master Promissory Note”. Please note that the entire MPN process must be completed in one session. The MPN can take
approximately 30 minutes to complete. To complete these steps you will need the
following information: your federal student aid ID and PIN, your personal
information including your address, telephone number, and email address,
employer information, school name, and reference information for two people
with different US addresses who you have known for at least three years. You will
need the name, address, email address telephone number, and relationship for
each reference. When you have gathered all necessary information click on the
MPN you wish to complete based upon the type of loan you are accepting. The first
section of the MPN asks for basic borrower information. Enter your driver’s
license number, your street address, telephone number, and email address. Next, under “School Information” click on New York and then search for the school. We
are listed under “Stony Brook University- SUNY”. This will allow our office to
receive confirmation when your MPN is complete.
When you have finished click continue at the bottom of the page. The next section
requires that you list two references with different U.S. addresses who do not
live with you, who you have known for at least three years. Student borrowers
should list a parent as the first reference, however parent borrowers
should not list the student. Please note references in this section are not
co-signers. This information is required should the Department of Education need
help contacting the student upon graduation. After entering two references
click continue at the bottom of the page. The next section outlines the terms and
conditions you are agreeing to. You must click through and read each section
before moving on to the next step. You can find the interest rates and
repayment plan options available for the loans within this section. Once you have
finished reading each section check the box at the bottom of the page to
acknowledge that you have read and understood the terms and conditions and
then click continue. The final page is a summary of the information you
previously filled out. Take a moment to verify that all the information entered
is correct. Upon review, enter your name at the bottom of the page. This serves as
an electronic signature for the MPN. After clicking on “sign”, you should have
access to a PDF version of the master promissory note. We strongly suggest
saving or printing a copy of this document to refer back to upon repayment.
You have now completed your master promissory note. If you are a first-time
student borrower at Stony Brook and have not yet completed the entrance
counseling session, you may now complete this session at studentloans.gov. If you
require additional assistance with this session please watch our video tutorial.
Thanks for watching! If you have any questions please feel free to visit our
office, send us an email, or give us a call.

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