Stafford Master Promissory Note

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(Forms approved by the Department of Education and the Office of Management and Budget April 2009)

The Federal Stafford Loan Master Promissory Note (MPN) is a form used by a prospective Federal Family Education Loan Program (FFELP) borrower to obtain a Federal Stafford Loan to help pay for postsecondary educational expenses.

The Addendum to the Federal Stafford Loan MPN is a form provided to a prospective FFELP borrower in conjunction with a Stafford MPN when Stafford loan terms and conditions have changed. It is used to explain the new provisions until a revised MPN can be developed, approved, and implemented.

The Stafford MPN serves several functions: it collects information needed to process a Stafford loan and, once the borrower completes and signs it, it becomes the promissory note to secure the loan. The Stafford MPN also provides the borrower with instructions for completing the MPN, information regarding the borrower's rights and responsibilities under the MPN, certain privacy and financial disclosures, and an overview of the loan process.

Usage
Beginning October 1, 2009, the revised MPN is the only Stafford MPN that may be provided to borrowers, although program participants may continue to process the previous Stafford MPN.

The Stafford Loan School Certification is a form completed by an authorized school official. It collects information needed to process the loan, provides instructions on how to complete the form, and reiterates the certifications the financial aid officer makes when providing a certification of the borrower's eligibility.

TG Stafford MPN Wrap
This wrap describes the Stafford MPN process to borrowers and is designed to fold around the Stafford MPN. TG's wrap is also a resource for schools to use in providing entrance counseling to borrowers.

Stafford Plain Language Disclosure
The Stafford Plain Language Disclosure (Stafford PLD) is a summary of the most important terms and conditions of the Stafford MPN and is provided to borrowers of subsequent Stafford loans (those who have already signed an MPN, received a loan, and are borrowing again) as well as to first time borrowers whose loans were disbursed before the revised PLD was approved and available. These borrowers do not currently have a second or subsequent loan but received the prior addendum when their loans were disbursed and now must be apprised of changes to the terms and conditions of their loan. The PLD is also an important reminder that the borrower has received another Stafford loan and that that entails certain rights and responsibilities.

Stafford MPN Resources

  • Frequently Asked Questions (30k)
    TG has developed a set of Frequently Answered Questions concerning the multi-year use of the Stafford MPN.

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