How to Complete Master Promissory Note (MPN) for Student Loan

The Master Promissory Note (MPN) is a law-binding written and filled document where you vow to repay any loan or loan with the necessary fees and interests to the U.S Department of Education. MPN is also a document that clearly states the terms and condition of any loan taken.

From the Federal Student Aid page, we have gathered that one can receive more than one loan under an MPN over a period of up to 10 years to pay for your or your child’s educational costs.

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The MPN process will only be possible so long the institution is permitted to utilize the MPN in this manner and also decide to do so.

As a student or parent who seeks a loan for education or related needs, you must learn, in details, how to fill this document and what the content entails in details. The procedures and all you need to know is what the content of this article about.

If you are an international student in the United States, we recommend you go through How to Secure Loan as an International Student in the U.S.

How do I fill out Master Promissory Note for Student Loans?

The processes below are how to complete the Master Promissory Note (MPN) as a parent or eligible student who is seeking a loan in the U.S Department of Education

First you are to visit the to login with your FSA Identity (depending on what the portal requires at a time.

Secondly, you are to select ‘Complete Loan Agreement’ from the portal and that is the Master Promissory Note.

You will chose the Master Promissory Note (MPN) for Subsidized/Unsubsidized Loans as the type of loan from the dropdown.

You also need to complete each of the MPN procedures on the page before hitting the submit button.
How long does it take for a Master Promissory Note to process?
Like every other document completing a Master Promissory Note entails submitting the documents online, and some sort of verification from the respective authorizers. And this may take up to 12 business days for completion. MPN authorization processes might not be totally automated but may take the number of days stated above to complete.

Types of Direct Loan MPN Available

There are three types of Master Promissory Loans available as you are advised to make choices from these:

  1. For undergraduates: This is the MPN for Subsidized/Unsubsidized Loans
  2. Graduate/professional: This is the PLUS MPN or MPN for Subsidized/Unsubsidized Loans for Graduate/Professional Students
  3. Parent of an Undergraduate Student: This last one is the PLUS MPN for Parents of Dependent Undergraduate Student.

It is important that you get informed about these categories and their interest values before proceeding with the processes of obtaining these loans.

Who signs the Master Promissory Note?

Do not forget that to obtain this loan, Master Promissory Note (MPN), your institution must endorse your request.

In other words, the financial aid office at your college or career school will direct you through the process to sign your Master Promissory Note (MPN), which may also involve you signing an online form.

Another article regarding finical aid that you must go through is the Federal Pell Grants worth $ 5,920 | Eligibility & applications.

Why do I need references for Master Promissory Note?

The Master Promissory Note (MPN) is an agreement that you will pay back all the federal loans you took out to fund your education.

Adding particular references is an added layer of security for the money lender as they offer you loans over this prolonged period of time.
Do Master Promissory notes expire?

In most situations, you’ll sign just one Master Promissory Note (MPN) for multiple subsidized and unsubsidized loans, and it will last for up to 10 years of continuous education.

How long does student loan take to process?

To process a federal student loan, it takes about 1-3 weeks and 2 to 10 weeks to process a private student loan.

But there’s much more to know. There are many students in college that end up collecting student loans.
There is always a waiting period, be it federal or private loans, before you can get the money

What happens after you sign the Master Promissory Note?

Once a signee signed the master promissory note, the U.S. Department of Education will receive and acknowledge the document, guaranteeing that information has crossed the threshold fully and correctly.

The moment the promissory note has been processed, your school’s financial aid office will be notified that your student loan may be disbursed.

Below is the list of the following items you need on how to complete a Master Promissory Note (MPN).

  • The U.S Department of Education FSA ID
  • Names, addresses, and residential phone numbers of two (2) personal references
  • Permanent address, telephone number, and email address.

Driver’s license number (that’s if applicable).

Note: The references cannot and should not share the same address or phone number you should have known the reference for at least three (3) years.

And to aid your understanding, we have to reiterate the process with clearer procedures:

Steps to Follow on How to Complete the Master Promissory Note (MPN)

  • Visit the Official Website:
  • Click on the login button
  • Then enter your FSA ID and Password
  • Click on “Complete Master Promissory Note”.

You should select the appropriate loan type. At this junction, you need to refer to your award letter for the type of loan you’ve actually been awarded. Either Subsidized or Unsubsidized, Grad Plus, and Parent Plus.

  • Enter your personal information

Then select your Institution in the drop-down menu of the school and loan information section. Mercer address and school code will appear.

At this point, there are a few things you need to take note of, which are:

  1. Choose the first Mercer University listed in the drop-down box
  2. Do not choose a Mercer University that has a suffix attached to it. For example, (Mercer University Law).
  3. Enter personal references information
  4. Now, carefully read the terms and conditions
  5. Review the input and sign your MPN

The important thing to Note: If you have been awarded a Parent plus Loan, your parent must also sign a Promissory Note for the Plus loan using their own FSA ID.

These are the following messages you will receive.
o Thank you for submitting the Master Promissory Note (MPN)
o In addition, you will also receive a confirmation email that your Master Promissory Note (MPN) has been completed.


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