The Federal Department of Education has developed an electronic signature process that will expedite the processing of your Master Promissory Note (MPN), which is required for all student loan borrowers. All new first-time borrowers of Federal Direct Loans, including the subsidized and unsubsidized Stafford Loans, are required to complete a MPN. Please read and follow all instructions carefully in order to ensure that your loan funds will be processed and credited to your student account.
To begin the process, you will need a Department of Education issued personal identification number (PIN). If you filed an electronic Federal Application For Student Aid (FAFSA), use the same PIN to sign your MPN. If you do not have a PIN, you can obtain one by visiting the PIN Web site for the Department of Education (www.pin.ed.gov). Provide a valid e-mail address and you will receive your PIN within three days. If you do not provide an e-mail address, your PIN will be mailed to your home within seven days.
Once you have your PIN, you may then complete your MPN at https://studentloans.gov/. Please read and follow all instructions carefully. You must allow enough time to complete the entire process in a single session. If you exit the Web site before submitting the signed MPN and return later, you will have to start over from the beginning. To successfully sign and complete your MPN, you must CONFIRM ACCEPTANCE OF ALL TERMS AND SUBMIT the MPN.
Federal regulations also require all first-time Stafford Loan borrowers to participate in a one-time loan entrance counseling session. The purpose of this counseling is to provide students with information that will help them understand their rights and responsibilities. Please visit Monmouth's undergraduate and graduate Stafford Loan Web pages to complete your loan entrance counseling. You must allow enough time to complete the entire process in a single session. If you exit the Web site before submitting the entrance counseling form and return later, you will have to start over from the beginning.
The signed promissory note and and entrance counseling must be completed prior to any loan funds being disbursed to your student account.
We strongly recommend that you complete the MPN electronically. The online process allows you to directly access your loan information, federal financial aid history, loan consolidation data, and make corrections to your application(s). E-signatures will also expedite the loan process. However, if you do not have access to a computer or simply prefer to complete a paper promissory note, you may request a copy of your MPN by contacting the Financial Aid Office at 732-571-3463 or by sending e-mail to our office at firstname.lastname@example.org.