The U.S. Department of Education offers low interest loans for students and parents of undergraduate students. To be eligible to receive these loans (Direct Subsidized/Unsubsidized Loans to students, Direct Parent PLUS Loans for parents of undergraduate students, or Direct Graduate PLUS Loans for graduate/professional students), individuals must complete a FAFSA (at studentaid.gov), a Master Promissory Note (MPN) and Entrance Counseling (for Direct Subsidized/Unsubsidized Loans and in some cases, Parent PLUS Loans).
Who must complete a Direct Loan MPN?
Individuals who wish to borrow a Direct Loan from the U.S. Department of Education must complete a MPN the first time they borrow loans for each type of loan borrowed (i.e. Direct Subsidized/Unsubsidized Loan, Direct Parent PLUS Loan, and/or Direct Graduate PLUS Loan).
What information is necessary to complete a MPN for the Subsidized/Unsubsidized Loan?
- Your Federal Student Aid ID (FAFSA ID) and Password
- Your Driver’s License (if applicable)
- Names, addresses, and contact information for two (2) individuals to be used as references. References should be individuals who you have known for at least three years and who live separately from each other.
Steps to complete a Master Promissory Note (MPN) for a Direct Loan
- The student must go to studentaid.gov and "Log In" using their FSA ID and Password.
- If this is for the Direct Parent PLUS loan, the Parent must log in using their FSA ID and Password to complete all of the following steps.
- Move your mouse to the top of the page and hover over the "Grants and Loans" Click on the "Master Promissory Note (MPN)" link when it appears.
- Click the "Start"button to complete the Master Promissory Note.
- You may be required to enter or update your Contact Information, Driver’s License Information, and Permanent Address. Once you have entered the information click "Continue" at the bottom.
- Parents may be required to enter Employer information as well their student’s information.
- Complete the school information section by selecting Northern Illinois Universityas your school and then click "Continue".
- Provide information for two (2) references. Please note, your references must not be people whom you live with. Parents must not list the student for whom they are borrowing. Once you have entered the information click "Continue"at the bottom. The system will let you know if there are any fields you neglected to complete.
- Read information in the MPN Agreement. There are 5 sections: Borrower Request, MPN Terms and Conditions, Important Notices, Rights and Responsibilities, and How you will receive your loan money. Click "Continue"at the bottom to move to the next section.
- Review the data and edit any information that is incorrect then click "Continue."
- Check the box in the "Promises"area to confirm your signature.
- Type your first name, middle initial, and last name in the designated areas and click "Submit"to complete the MPN.
- NIU will receive confirmation from the U.S. Department of Education that the MPN has been completed within a few days.