The Master Promissory Note (MPN)
The Master Promissory Note, or MPN, is a legal document in which you promise to repay all of your student loans plus any accrued interest and/or fees to the U.S. Department of Education. It also explains the terms and conditions of your loans. Federal regulations require students borrowing for the first time at Villa Maria College to complete entrance counseling before you can receive your loans. Exit counseling will help prepare you to begin repaying your loans. The completion of both sessions is mandatory. Click here to learn more.
Entrance Counseling will help you understand what it means to take out a federal student loan. All students taking out direct subsidized loans or direct unsubsidized loans under the Direct Loan Program are required to complete Entrance Counseling. For more information on Entrance Counseling, click here. Your MPN and Entrance Counseling can be completed at StudentLoans.Gov. Please note, if awarded, you will only receive direct subsidized and direct unsubsidized loans after your FAFSA, MPN and Entrance Counseling have been completed.
Exit Counseling will help you prepare to repay your federal student loans. If you have received a subsidized, unsubsidized or PLUS loan under the Direct Loan Program or the FFEL Program, you must complete exit counseling each time you:
- Drop below half-time enrollment
- Leave school
- Exit Counseling can be completed at StudentLoans.Gov.