By signing a Master Promissory Note (MPN), you, the borrower, agree to repay the loans that are guaranteed using the note.
UND participates in the serial process, which means you should only have to complete one MPN for each loan type borrowed (Direct Loan, Perkins Loan, Nursing Loan, etc.). The MPN will remain valid for 10 years unless you file for bankruptcy. If you sign the MPN and then decide not to borrow for 12 months, you will be required to complete a new MPN.
How do I sign an MPN?
Federal Perkins Loan:If you are borrowing one of these loans for the first time at UND, please complete your MPN in Campus Connection.
Federal Nursing Loan: If you are borrowing one of these loans for the first time at UND, please complete the online MPN with ECSI.
Can I change the amount of my loan?
You may reduce the loan by contacting the UND Student Financial Aid Office before the money is disbursed. If you are interested in borrowing additional loans, you should contact our office to discuss your options.
What happens if I transfer to another school?
You may continue to use the MPN on file for Direct Loans and Direct PLUS loans if your new school participates in serial processing. You will have to sign a new MPN for Perkins and Nursing Loans. Work with your new school's financial aid office to learn if you will need to complete a new MPN.
Entrance Loan Counseling
The Federal Perkins Loan, Federal Nursing Loan, Federal Direct Loan, and Federal GradPLUS loan require that a student complete an Entrance Loan Counseling session before funds may be released.