MPN: before I'm sure I'm attending?

[juliedi]

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I admit I'm a bit of a n00b when it comes to all of these financial aid forms, but I have a question about the MPN. (Yes, I used the search button, but there wasn't anything particularly helpful.)

I just sent in my financial aid application (plus W2s, tax returns, and all that jazz) to a school I've been accepted at. I'm not sure if I will attend here in the fall or not; I wanted to wait until my financial aid packages come in to compare the different schools. Anyway, the school just sent me an email that I need to submit a Stafford Loan Master Promissory Note (MPN) along with the other financial aid documents, otherwise my info won't be processed. I was under the impression that the MPN is some kind of binding document that states some of the specifics of your loan for that certain school, which usualy isn't done until later in the fin aid game. Indeed, when I looked into it more, you have to write the specific name of the school on the form.

So I guess these are my questions: by signing the MPN for that school, is this a guarantee that I'll attend there? Can you sign multiple MPNs for different schools? Has anyone else been in this situation?

Any help would be appreciated. Thanks!

 

[slatermd]

Nah, the MPN just says you agree to the terms of the loan and that you promise to repay it. It's only binding if the loan gets disbursed to your school, and it isn't your school until you enroll there.

 

[juliedi]

Sweet, thanks MedZ.