Master Promissory Note (MPN)
Before a student or a parent receives loan funds, students typically have to undergo loan counseling, and students and parents must sign a promissory note. The students and parents are required to complete one promissory note for each type of the loan. Such promissory note will remain on file with the loan guarantee agency and stay active for your subsequent loans at UW-Oshkosh (up to 10 years). This note is called a Master Promissory Note (MPN).
When you sign the MPN, you are confirming your understanding that UW-Oshkosh may make new loans for you for the duration of your education without having you sign another promissory note. You are also agreeing to repay your lender, the U.S. Department of Education, all loans made to you under the terms of the MPN. Therefore, it is very important that you completely read and understand all of the information on the MPN before you sign it or submit on-line.
Each MPN asks for a lender code, which is a lending institution identification number. Please note, that UW-Oshkosh cannot recommend a specific lender to a student or a parent.
The entire online MPN process must be completed in a single session, so be sure you have enough time before you start. If you have all of the necessary information to complete the MPN before you begin, the process takes approximately 20 minutes to complete. If you exit the site before submitting your MPN, you have to start from the beginning when you return to the site.
To start Loan Counseling and MPN process, go to Loan Processing and choose specific loan link.
