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Master Promissory Note (MPN) and Entrance Counseling

What is a MPN?

Master Promissory Note is a legally binding document in which the borrower promises to repay a certain sum of money at a certain time. Completed the first year at Bellevue University and continues in force while attending this school.

Do I need to sign a MPN?

Generally, if you have signed a Master Promissory Note (MPN) you are no longer required to sign a promissory note every year at Bellevue University for a Federal Direct Subsidized or Unsubsidized Loan. However, you will still need to accept your loans on your Student Center, before funds can be disbursed. You may accept the full awarded amount, accept less, or decline each loan.

If you are a first-time Federal Direct Subsidized or Unsubsidized Loan borrower, an electronic MPN and an online entrance counseling session are required.

What is the Entrance Counseling Process?

All first-time student loan borrowers are required to complete Direct Loan Entrance counseling before their loan can be disbursed. This is completed on-line and takes about 20 minutes. It is a process designed to inform you of the rights and responsibilities associated with your student loan. All students who drop below half-time status, withdraw or graduate, must complete a Direct Loan Exit counseling session.

Direct Stafford Loan Entrance and Exit Counseling

What is the Exit Counseling Process?

Students who borrow money under the student loan program must complete this process. Exit briefings are mandatory for graduating students, transferring students, or students who stop attending Bellevue University on at least a half-time basis. Exit briefings may be conducted by mail, online, or in person. For problems or questions about student loans, students should contact their lender, servicer or guarantee agency. For serious/unresolved disputes contact the Department of Education Student Loan Ombudsman at (877) 557-2575 or www.fsahelp.ed.gov.

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