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ADDITIONAL STAFFORD BORROWER INFORMATION REQUEST
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People also ask
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What is an MPN?
GLOSSARY. An MPN is a legal document that contains the Borrower's Rights and Responsibilities and Terms and Conditions for repayment. Direct PLUS and Direct Subsidized / Unsubsidized loans have different MPNs.
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What is the MPN on a student loan?
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.
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Is my Stafford Loan a federal loan?
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).
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What is a stafford student loan?
Program Description Direct Stafford Loans, from the William D. Ford Federal Direct Loan (Direct Loan) Program, are low-interest loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school.
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What is a Stafford Loan vs pell grant?
Federal Stafford Loans and Pell Grants are types of federal student aid. The main difference between the two is that borrowers must repay Stafford Loans. Pell Grants don't need to be repaid. There's no interest rate or repayment period.
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Are stafford subsidized loans eligible for forgiveness?
There are two types of Stafford Loans: Subsidized and Unsubsidized Loans. Both types of Stafford Loans qualify for PSLF, but you'll need to consolidate them into a Direct Consolidation Loan before they can be forgiven.
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What is a stafford MPN?
The borrower must complete a Master Promissory Note (MPN) to receive a Stafford or PLUS loan. The student may be able to complete the MPN electronically. The school certifies (in FFEL) or originates (in DL) the loan, based on the borrower's loan eligibility and specifies the anticipated disbursement dates.
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Is signing an MPN accepting a loan?
You are required to sign a Master Promissory Note (MPN) before you can receive Direct Loan funds. The MPN is an agreement to repay your Direct Loans along with accrued interest and fees. It also explains the terms and conditions of your loans.
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