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Promissory Note
(You May Want To Print This Page For Future Reference)
You are about to sign the Master Promissory Note (MPN) electronically. Please read all instructions carefully. Everyone will need to create a new account. To do so please follow the instructions on the Master Promissory Note page. If you have questions about the terms of the loan please call our office or your lender. You may learn more about aggregate amounts and Stafford loans from the Student Guide for Receiving a Stafford Loan. The MPN allows you to sign a Stafford promissory note only once during your collegiate career. This one note will permit you to continue borrowing each year up to the aggregate amount as long as enrollment is continuous. If you transfer or take a leave of absence, however, your lender or school may require an additional promissory note.
You should have received an award notice. If you have not, please contact our office at (479) 575-3806. If you are unable to complete the MPN signature process, you can save your progrees for completion later. Please contact our office for any assistance you need. To view the Stafford Loan Checklist you must have Adobe Acrobat PDF Reader installed on your computer. It can be downloaded for free at http://www.adobe.com/prodindex/acrobat/readstep.html.
Be careful to enter the same lender on the award notice and the Master Promissory Note. The lenders on the comparison chart participate in electronic funds transfer. If your lender participates in electronic funds transfer, your funds will be applied to your account balance. All excess funds will be mailed to you by the Office of Student Accounts. To verify your correct check address, please contact Student Accounts at (479) 575-5651. If your lender does not participate in electronic funds transfer, you may pick up your check, upon its arrival, at Student Accounts. If you are uncertain how your funds arrive, and your lender does not appear below, contact your lender.
It is very important that you have completed entrance counseling so that your lender will release your Stafford funds. You may complete this by going to our Financial Aid Entrance Counseling web page. You must also be registered for at least half time to receive a Stafford Loan.
- - - Before Signing Your Name Remember - - -
Your signature shows that you accept the terms and conditions of the loan and the financial obligation. You are required to repay your loan in full. It is not a gift. This commitment can last up to ten or more years. Repayment is required even if you do not complete your education, are unable to find employment after graduation, and/or are dissatisfied with the education you received.
- - - Borrow Only What You Absolutely Need - - -
If you wish to reduce your loan from what was noted on your award notice, please notify us in writing immediately.
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Fayetteville, Arkansas 72701
(479) 575-2000