Master Promissory Note

i sure hope not! i need to check up on this too...

probably your best bet is to talk to the financial aid office of whatever school you're considering.

The financial aid office at Georgetown said it would not be a problem. She said to go online and cancel the MPN and call the school and tell them to cancel it. She said if the school was good, they would just forward all the paperwork to Georgetown, but she said don't rely on this happening, and just go through the whole MPN process again from scratch.

phew! i also called NYMC and they said it would not be a problem to cancel accepted loans as long as the admissions office has received your official withdrawal notice.

I signed a promissary note for one school and just withdrew to go to a differnt school. It was no big deal. I actually called the lender, and they just canceled the loan.

bumping...

I actually have some Q's about the master promissory note (MPN) and stafford loans. Should I fill out a request for a stafford loan now, even though I'm not sure whether I'll be taking out loans? Or should I wait till I get fin aid packages from schools and then decide?


Some basic questions:

How do you decide on a "lender"? Is this just a bank that is local to your med school? Do banks/lenders actually have diff deals and should I be doing research into this?

Once you fill out an MPN and select a lender, are you obligated to borrow from them? Is there a cancellation fee?

Can you send the same MPN to all your schools?

Is this what a generic MPN looks like?
http://www.tgslc.org/pdf/staf_mpn.pdf

If someone who's gone through this process could help, that'd be great. thanks!