Promissory notes - at a glance

Failure to complete the appropriate MPN within 30 days of the student's acceptance of the loan (or at least 30 days prior to their last date of enrollment) may result in the cancellation of their loan(s).

Federal perkins master promissory note (MPN)

Must be completed online: https://www.ecsi.net/prom49/.

The federal perkins MPN is a promissory note that can be used to receive multiple federal perkins loans while enrolled in college. By signing this promissory note, students are receiving a "line of credit" for the maximum amount of loan for which they are eligible, not to exceed the maximums allowable under the Higher Education Act.

Federal student loan electronic master promissory note (E-MPN)

Must be completed by first-time borrowers online: https://studentloans.gov/myDirectLoan/index.action

The E-MPN is an electronic promissory note that can be used to receive multiple federal subsidized and unsubsidized loans. By signing the E-MPN, students are receiving a "line of credit" for the maximum amount of federal loans for which they are eligible, not to exceed the maximums allowable under the Higher Education Act.

Federal PLUS loan master promissory note (MPN)

Must be completed by the parent borrower: https://studentloans.gov/myDirectLoan/index.action

The Federal PLUS MPN is a promissory note that allows the parent borrower to receive more than one loan using the same promissory note over a period of up to 10 years to pay the educational costs of the student identified on the MPN. If the Department of Education determines that the parent has adverse credit history and an endorser is obtained, then the borrower may receive only one loan under the MPN.

Federal Direct Graduate PLUS Loan Master Promissory Note (MPN)

Must be completed by the student borrower: https://studentloans.gov/myDirectLoan/index.action

The Federal Direct Graduate PLUS MPN is a promissory note that allows the graduate student borrower to receive more than one loan using the same promissory note over a period of up to 10 years to pay the educational costs of the student identified on the MPN. If the Department of Education determines that the student borrower has adverse credit history and an endorser is obtained, then the borrower may receive only one loan under the MPN.