Entrance Here!
The MPN is this type of document—not simply an informational form.
What is a legally binding document?
This requirement teaches the borrower how federal student loans work.
What is Entrance Counseling?
A student says, “I completed my FAFSA, so my Entrance Counseling must also be complete.” The representative should explain this.
What is explain they are separate documents?
This practice reduces a student’s total repayment cost by limiting the amount initially borrowed.
What is responsible borrowing or borrowing only what is needed?
This is what MPN stands for.
What is Master Promissory Note?
This requirement contains the borrower’s legal promise to repay.
What is the MPN?
A student asks the representative to sign the MPN for them. The representative must explain this.
What is that the borrower must review and sign their own legal document?
True or false: Completing entrance counseling commits a student to a loan.
What is false?
True or false: A student can generally use one completed MPN at multiple schools.
This requirement informationally discusses budgeting, interest, repayment, and avoiding delinquency and default.
What is Entrance Counseling?
This type of ID/Account is used to complete Entrance Counseling and the MPN.
What is the FSA ID?
What is the Direct Loan annual limit (subsidized and unsubsidized combined) for a first-year, Independent undergraduate student?
What is $9,500?
True or False: References on an MPN can all live at the same address.
What is false?
Signing this document does not mean the borrower is required to accept every loan offered by the school.
What is the MPN?
This company handles billing, payments, deferment requests, and other loan-related services.
What is a loan servicer?
The borrower must repay a federal student loan even if they do not complete this educational goal.
What is graduate or complete the program?
True or False: There is one MPN used for all students and all types of loans.
What is false? There are separate MPNs for undergraduates and PLUS borrowers.
Completing only Entrance Counseling does not satisfy this separate loan requirement.
What is completing the MPN?
What is the FA Trainer's name?
Amy