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Completing Your Promissory Note

A promissory note is the contract between you and your lender that sets the terms of the loan you are taking. It is very important that you carefully read through each promissory note before signing so that you fully understanding your rights and responsibilities as a borrower.

Direct Subsidized and Unsubsidized Loans

If you are offered a Subsidized or Unsubsidized Direct loan, you will need to complete a Master Promissory Note electronically at the Student Loans website. You will need your FAFSA PIN and at least two references to complete your Master Promissory Note. The Master Promissory Note is valid for 10 years and will only need to be signed once for all Direct Subsidized and Unsubsidized loans you receive for your program at Drexel.

Parent PLUS Loan

If your parent is approved for a Parent PLUS Loan, they will need to complete a Master Promissory Note electronically at the Student Loans website. They will need their FAFSA PIN and at least two references to complete their Master Promissory Note. The Master Promissory Note is valid for 10 years and will only need to be signed once for all Parent PLUS Loan your parent borrows for you while attending Drexel.

Graduate PLUS Loan

If you're approved for a Graduate PLUS loan, you need to complete a Master Promissory Note electronically at the Student Loans website. You will need your FAFSA PIN and at least two references to complete your Master Promissory Note. The Master Promissory Note is valid for 10 years and will only need to be signed once for all Graduate PLUS Loans you borrow while attending Drexel.

Perkins Loan

If you're offered a Perkins Loan you need to complete a Promissory Note electronically at the ECSI website. You will need your FAFSA PIN and at least two references to complete your Promissory Note. The Promissory Note is valid for only the Federal Perkins Loan you're accepting for a specific year. A new promissory note is required to be completed for each subsequent Federal Perkins Loan you receive each year.

Primary Care Loan

If you're offered a Primary Care Loan you need to complete a Promissory Note electronically at the ECSI website. You will need your FAFSA PIN and at least two references to complete your Promissory Note. The Promissory Note is valid for only the Primary Care Loan you're accepting for a specific year. A new promissory note is required to be completed for each subsequent Primary Care Loan you receive each year.

Institutional Loan

If you're offered an Institutional Loan you need to complete a Promissory Note electronically at the ECSI website. You will need your FAFSA PIN and at least two references to complete your Promissory Note. The Promissory Note is valid for only the Institutional Loan you're accepting for a specific year. A new promissory note is required to be completed for each subsequent Institutional Loan you receive each year.

Private Education Loan

Completing a promissory note for a private education loan is done directly with your lender and you will be notified during the approval process of how and when to complete.