Students and Parents who are borrowing for the first time through the Federal Direct Stafford Loan Program, must complete a Master Promissory Note (MPN). The Department of Education provides an electronic version of the Master Promissory Note. Generally this is a faster process than completing a paper promissory note.
lf you are taking out a loan to pay for your own education, then you should complete a Direct Loan MPN for your student loan.
If you are a student borrowing for the first time, you also need to complete the Entrance Counseling requirement. For this requirement, please attend Entrance Counseling. A parent borrower under the Direct PLUS loan program is not required to complete Entrance Loan Counseling.