What Document Explains Your Rights And Responsibilities As a Federal Student Loan Borrower?
Answer :
Master Promissory Note (MPN)
An MPN is more than just a piece of paper. It's a legal document that outlines your rights and responsibilities as a borrower, as well as the terms and conditions for repayment. Whether you're applying for Direct PLUS or Direct Subsidized/Unsubsidized loans, each loan type has its own MPN tailored to your needs. Plus, here's some good news: if you meet certain enrollment requirements, your MPN can stay valid for up to 10 years, giving you peace of mind as you pursue your education.
Related Question: Which is a True Statement About the Privileges and Immunities Clause?
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