Get Federal Stafford Loan Master Promissory Note - Commerce Bank

Generally, you may cancel all or part of your loan within 120 days of receiving it and no interest or fees will be charged. If you must repay federal student loans, complete Exit Counseling to understand your responsibilities and learn how to plan affordable repayment of your loan(s).

Before your loan money is disbursed, you may cancel all or part of the loan at any time by notifying your school. After your loan money is disbursed, you may cancel all or part of the loan within certain timeframes set by the Act.

The financial aid office at your college or career school will tell you how you need to complete and sign your MPN. Each school has its own process, either on StudentAid.gov or another way. Find more information and complete your MPN. All borrowers need to complete an MPN before they can receive a federal student loan.

You may request another copy of the BRR at any time by contacting your loan servicer. You can also obtain a complete copy of the MPN that you signed, including the BRR, on StudentAid.gov.

You can also view a completed copy of your MPN by logging in to your account and selecting Documents from the drop-down menu under your username. Was this page helpful? The 2024-25 FAFSA form is not currently available as we prepare for our soft launch.

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.

Stafford loans are a type of federal student loan that are either subsidized, meaning the government pays the interest while you're in school, or unsubsidized, meaning you pay all the interest. Stafford loans are a type of loan issued under the Federal Family Education Loan Program (FFELP).

Your lender will typically provide you with a copy of the promissory note, along with several other documents, when you close on your home purchase. The lender will keep the original promissory note until the loan is paid off.

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).