Master Promissory NotesOnce you have been awarded and accepted a federal Stafford loan, or if you have applied for a federal PLUS loan with Portland State and it has been approved by your lender, you will need to complete a master promissory note (MPN) for the funds to be disbursed to the school. The MPN is your official promise to repay the loan as well as the notification and acknowledgement of your borrower rights and responsibilities. You will be able to electronically sign your MPN if you selected one of the lenders on the PSU preferred lender list. If you selected a lender that was not on the preferred lender list, contact your lender for instructions on signing your master promissory note. e-Signing your Stafford MPN | Stafford MPN e-Sign GuideIf you have accepted a federal Stafford subsidized or unsubsidized loan(s) offered to you by the PSU financial aid office and have selected a lender to fund your loan(s), you will be receiving MPN information via mail detailing both your e-sign and paper signature options. Your Stafford MPN will be ready for you to e-sign via OpenNet generally five business days after you accept your loan(s) and choose a lender. If it has been five business days since you accepted your loans and you are ready to complete your Stafford loan MPN online, log into your student account on the PSU Information System, select the Student Services and Financial Aid option, then follow the link for Financial Aid you will now see a link to Complete your Stafford Master Promissory Note, click on this link to begin the e-sign process. e-Signing your PLUS loan MPN | Begin PLUS MPN e-SignIf your lender has approved your PLUS loan, you will be receiving MPN information via mail detailing both your e-sign and paper signature options. Your PLUS MPN will be ready for you to e-sign via OpenNet generally five business days after you submit the PLUS loan application to PSU. If it has been five business days since you submitted your PLUS loan application to PSU and you are ready to complete your PLUS loan MPN online click on the above Begin PLUS MPN e-sign link. |
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