Applying for Aid — College of Medicine Students

7. Sign Your Promissory Note

A promissory note is a document signed by a borrower promising repayment of a loan. The promissory note includes information about the grace period, deferment or cancellation provisions, and the student’s rights and responsibilities with respect to the loan.

What to Do

If the borrower has not signed a Master Promissory Note (MPN) for the Stafford or PLUS loan, you may sign your MPN online. You will be advised when the promissory note is ready to sign. Visit www.aessuccess.org to log in and sign an AES/PHEAA Stafford promissory note, or follow the directions provided by the guarantor you chose.

Federal Stafford loans are low-interest loans that are either subsidized or unsubsidized. No principal payments are required while the student is enrolled at least half-time. No principal payments are required while the student is enrolled at least half-time.

Tips

• Read the promissory note carefully. Make sure you understand everything on it before you sign.
• If you are unsure of the guarantor who holds your loan, you can look up your information on the National Student Loan Data System.