The Master Promissory Note
The Master Promissory Note (MPN) is your promise to repay your Federal Stafford loans. You must complete an MPN in order to receive the funds from your Federal Stafford loan. The online MPN is designed to make the loan process simpler for student borrowers.
Master Promissory Note Process
The Office of Student Financial Services (OSFS) receives your FAFSA data and uses this information to determine your loan eligibility. Once IUPUI or IUPUC has received your loan funds:
- Another eligibility check is made. Remember that you must be enrolled at least half time at the time of disbursement in order to receive your loan.
- The loan funds are applied to charges on your bursar account.
- After paying allowable charges, the Office of the Bursar will determine if you qualify for a refund.
- You are encouraged to sign up for direct deposit for any refund via OneStart or by visiting the Bursar's Office website.
- If you do not have direct deposit set-up through the Office of the Bursar, a refund check will be mailed to the local address (address priority = local, student housing, student home, mail) on file with the university. You can view/update your addressed by visiting OneStart.
Any of the following conditions could delay the processing of your loan request:
- Not being admitted to a degree-seeking program.
- Not having a FAFSA on file for the current academic year.
- Not meeting Satisfactory Academic Progress criteria.
- Having student loan debt in excess of the federal aggregate limits.
- Not responding to requests for additional information/documentation by OSFAS.
- Waiting until classes begin before completing the financial aid process.
You should monitor the progress of your financial aid and any additional information requests via your OneStart account and IUPUI or IUPUC email account.