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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 all applicants.You will receive a Master Promissory Note application once you accept your financial aid package. Your federal PIN number will be needed to sign the MPN. Under the MPN you will: Receive instructions for repayment, deferment, and the interest that will accrue on all… Read more here!