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Step 3: Signing the Master Promissory Note
The Electronic Master Promissory Note (MPN)
Students who are borrowing for the first time through the Federal Direct Loan for Subsidized and Unsubsidized, Undergraduate Plus Loan and Graduate Plus Loans Program must complete a Direct Loan Master Promissory Note in order to receive their Direct Loan funds. Once you complete the MPN, you will not have to complete another MPN for the duration of your Hunter College education.
What To Have On Hand When Completing the Electronic MPN online:
- Department of Education PIN**
- your social security number
- permanent address and telephone number to complete references
- driver license number (if applicable)
**To complete the Electronic MPN on the Web, you'll need a PIN number issued by the U.S. Department of Education. If you do not already have a PIN, you should apply for one immediately at www.pin.ed.gov. It will take approximately three business days after you request your PIN for you to receive an e-mail notification with instructions on how to retrieve it electronically, or 7-10 days to receive it in the mail via the U.S. Postal Service. If you already have a PIN, but you cannot locate it, see pin.ed.gov/pinlose.htm (Note: Your PIN is not the same as the DRN number shown on your student Aid Report.)
How to complete the Electronic MPN:
When completing the MPN online at dlenote.ed.gov , it is extremely important to first review the "What You Need" and "What to Expect" sections of the Web site to be SURE you have a compatible browser and the correct settings for Adobe Acrobat Reader.
We encourage you to complete the MPN online at dlenote.ed.gov in order to receive your Direct Loan funds in a timely manner. When you complete the MPN online, you receive a confirmation number immediately so that you know the federal government (the lender) has received and accepted the MPN instantaneously. If you request that a paper copy of the MPN be sent to you for completion, there are more steps involved in approving and disbursing your Direct Loan, possibly causing delays in receiving your loan funds.
How do I request a Federal Direct Loan at Hunter College?
See Step 4 on completing the Direct Loan Request Form.
Do I have to wait until my loan request is approved, and a Direct Loan is originated by the Office of Financial Aid at Hunter College before I complete my Electronic MPN?
No. You can complete the Electronic MPN as soon as you decide that you want to borrow a Federal Direct Loan. The most common delay in the delivery of Federal Direct Loan funds is not signing the MPN on time. Completing the Electronic MPN when you decide that you want to borrow will help prevent a delay with the delivery of your loan funds.
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