Master Promissory Notes and Entrance Counseling

What Is a Master Promissory Note?

The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s).

You can complete your MPN at studentaid.gov. Please ensure that you select the correct MPN based on your loan type: 

  • Undergraduate and graduate student borrowers will complete the subsidized/unsubsidized MPN.
  • Parent borrowers with PLUS loans will complete the Parent PLUS MPN.
  • Graduate PLUS borrowers will complete the Grad PLUS MPN.

What Is Entrance Counseling? 

Entrance counseling is designed to help students understand the borrowing process. The federal government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming. 

If you are completing entrance counseling to borrow a loan as an undergraduate student, then the entrance counseling will fulfill counseling requirements for direct subsidized loans and direct unsubsidized loans.

If you are completing entrance counseling to borrow a loan as a graduate or professional student, the entrance counseling will fulfill counseling requirements for direct subsidized loans, direct unsubsidized loans, and direct PLUS loans.

You can complete entrance counseling at studentaid.gov.

FAQs