MASTER PROMISSORY NOTE. A legally binding document that sets the terms of your loan.
Master Promissory Note. A legally binding contract between student and lender that contains all the conditions and terms under which the student agrees to repay his/her loan(s) with interest.
Master Promissory Note. The legal document you sign to â€œpromiseâ€ to repay your Direct Loan. This is a oneâ€“time requirement with your selected lender. If you decide to change lenders, a new MPN will need to be signed promising to repay that lender.
Master Promissory Note. A Master Promissory Note is a promissory note that can be used to make one or more loans for one or more academic years (up to 10 years). See Promissory Note.