Posted Date:January 25, 2010
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: Reminder: Revised Paper Master Promissory Notes for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans
Previously, in two separate Electronic Announcements posted on August 7, 2009 on the Information for Financial Aid Professionals (IFAP) Web site, we informed schools about the availability of a revised Direct Subsidized Loan and Direct Unsubsidized Loan Master Promissory Note (MPN) and a revised Direct PLUS Loan Application and MPN.
As a reminder, effective January 1, 2010, schools that use paper MPNs should be using the revised version of the Direct Subsidized Loan and Direct Unsubsidized Loan MPN (Revision Date 3/2009) and the revised version of the Direct PLUS Loan Application and MPN (Revision Date 3/2009). To prevent paper MPNs from being rejected, schools that have not already done so must begin using the revised versions of the MPNs immediately.
Note: Schools do not have to take any action if their borrowers use the Direct Loan Electronic MPN Web site.
If you have questions about the information in this announcement, contact the COD School Relations Center at 800/848-0978. You may also e-mail CODSupport@acs-inc.com.