Office of Student Aid : Parents of Students : Parent Newsletter

Penn State Office of Student Aid Parent Newsletter
Volume 5, Issue 2--June 2007

MPN E-signature Basics for New Borrowers

Federal Stafford Loan

Once Penn State has certified your student's Federal Stafford Loan eligibility for the upcoming enrollment year, he or she will receive an e-mail from our office advising on the availability of the Master Promissory Note (MPN) for e-signature. The MPN is the official loan application and outlines the terms and conditions in a legal binding document. It can be accessed through a link on our Web site, which will be listed in your student's e-mail notification. Once signed, the MPN is valid for ten years, as long as your student is continually enrolled.

Federal Parent PLUS Loan

If you have been approved for a Federal PLUS Loan, you can electronically sign your loan eMPN with your Federal Student Aid "PIN" (Personal Identification Number) issued by the Department of Education. This is the same number you used as your signature to sign your student's Free Application for Federal Student Aid (FAFSA). If you do not have a PIN, or if you have forgotten the number, you can go to the official PIN Web site to request one. You must complete the signature process within a single session as there is no option to "save" the information and return to it later. The process takes about 30 minutes to complete, so be sure to allow enough time to finish. It is important to note that an MPN must be signed for each dependent student for whom you have applied for a PLUS Loan. Additional information about the PLUS Loan, including e-signing, is available on our Web site.