Most people electronically sign an online Master Promissory Note. After you fill out your FAFSA, your school of choice will send you a financial aid award letter. After you accept it, your school should send you an MPN to complete.
You have to complete the MPN in one session. It takes approximately 30 minutes to read and complete.
You may sign a paper version of the MPN (through your school’s financial aid office) or sign a digital MPN on the U.S. government’s secure website. Log into studentaid.gov with your Federal Student Aid ID (FSA ID) and go to the MPN page for undergrad students, graduate and professional students, or parents.
Before signing the Master Promissory Note, double-check that you understand all of the conditions and terms associated with your student loans. After reading and understanding the MPN, finish filling out the Note by signing your electronic signature.
On your Master Promissory Note, you need to provide the contact information for two references who have known you for at least 3 years. These references cannot live at the same address as each other.
The references you provide are not cosigning your loans or providing a character reference. This means they are not legally obligated to repay your debt if you default on your student loan payments. You’re only providing their names and contact information so that the student loan lender(s) can locate you if your contact information changes.
If you move without telling your lender, the loan lender or collections agency will contact your references to try and “skip-trace” you. The lender wants to ensure you’re getting their student loan bills.