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An MPN (Master Promissory Note) is a necessary step in the loan application process that binds you to agree to repay the Stafford Loan money you have borrowed. Thomas More College makes it easy for you to obtain an MPN by completing the MPN electronically with one of the lenders listed on the Student Loan Lender List.
To complete the MPN On-line:
Review the Student Loan Lender List
Choose your lender
Click APPLY NOW
You must have a Department of Education PIN
number to electronically sign your MPN. If you do not have
a PIN, you may register for
one at www.pin.ed.gov.
The MPN describes your rights and responsibilities as a student
loan borrower. By signing the MPN, you agree to repay the money
borrowed, and agree to all terms and conditions included in the
MPN.
A new MPN is not required for any new loans, provided you stay
with the same lender.
The interest rate on the Federal Stafford Loans is variable,
adjusted each year on July 1, but will never exceed 8.25%.
| MPN quick facts: |
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Students must be enrolled
at least half time (6 credit hours or more).
You must choose a lender
while completing the MPN. If you have not done
so, the Financial Aid Office will choose one for
you. See "Lenders-Which One Do I Choose?"
Thomas More College has a preferred lender list.
When completing the MPN, you will be prompted to select a lender.
Preferred lenders are set up to send loan funds via Electronic Funds Transfer
(EFT) and funds are applied to your account within three (3) days of the date of
the disbursement date. EFT allows for your loan to be processed without delay.
The following lenders are listed on our Preferred Lender List: |
| First-time borrowers must
complete a loan entrance interview before your disbursements
will be credited to your student accounts. Click
here for more info on the loan entrance interview. |
| Transfer students who
have borrowed previously will need to complete an MPN
with Thomas More College. We recommend you stay with the
same guaranty agency and/or lender. |
Lenders – Which one do I choose?
Thomas More College has a preferred lender list. By reviewing the Student Loan Lender List you will be able to review information about these lenders which will aid you in choosing your lender. The Preferred lenders are set up to send loan funds via Electronic Funds Transfer (EFT) and funds are applied to your account within three (3) days of the date of the disbursement date. EFT allows for your loan to be processed without delay.
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For more information about the MPN online application,
contact the Financial
Aid office at Thomas More College.
Office of Financial Aid
Financial-Aid@thomasmore.edu
(859) 344-3319
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