Master Promissory Note (MPN)

Used to receive funds from the Federal Stafford Loan Program and the Federal Grad Plus Loan.  Des Moines University uses the multi-year feature, which allows borrowers to complete one MPN and continue to borrow Stafford Loans and/or Grad Plus Loans (based on eligibility) at DMU until they cease to be enrolled.

Once signed, you agree to the terms stated on the MPN for each Stafford Loan and/or Grad Plus Loan you receive.

There are times when you may be required to complete a new MPN; they include but are not limited to:

• No disbursement has been made within 12 months of signing the MPN.
• 10 years has elapsed from the date you signed the MPN.
• If required by your lender.
• If you change lenders.

The Master Promissory Note allows you to request Stafford and/or Grad Plus Loan funds:

• DMU requires you to request, in writing, how much to certify (based on eligibility and maximum annual and aggregate amounts)
• You must maintain satisfactory academic progress
• You must complete a Free Application for Federal Student Aid (FAFSA) each year before you can request Stafford funds

You may also cancel an MPN so no additional loans can be added (this must be done in writing to the lender).