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The Master Promissory Note (MPN)

November 18th, 2009 No Comments

By signing a Master Promissory Note, you are making a promise with your lender to pay back all loan money borrowed. The MPN is used by all lenders and schools. Terms of repayment include the entire loan amount, along with the accrued interest. The MPN is a way to streamline the financial aid process for [...]

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Financial Aid Deferment/Forbearance

November 18th, 2009 No Comments

Deferment and forbearance are just fancy ways of saying postponing your student loan repayments. Let’s take a look at the difference. Deferment is postponing your student loan repayment for a specific period of time for a specific reason. You have to apply for deferment through your lender; it is not automatic. You apply for a [...]

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