Posted Date:October 19, 2012
| Author: | William Leith, Service Director, Program Management, Federal Student Aid |
Subject: Revised Master Promissory Note for Direct Subsidized and Direct Unsubsidized Loans
We are pleased to announce the availability of a revised Master Promissory Note (MPN) for Federal Direct Stafford/Ford Loans and Federal Direct Unsubsidized Stafford/Ford Loans (Direct Subsidized/Unsubsidized Loan MPN). In addition, we are now offering the Direct Subsidized/Unsubsidized Loan MPN in Spanish. Detailed implementation guidance for schools that will print and use paper versions of the revised Direct Subsidized/Unsubsidized Loan MPN is attached to this announcement.
Revised Direct Subsidized/Unsubsidized Loan MPN
The Office of Management and Budget (OMB) has approved a revised Direct Subsidized/Unsubsidized Loan MPN under OMB Control Number 1845-0007. English and Spanish versions of the revised Direct Subsidized/Unsubsidized Loan MPN are available for bulk order and have an expiration date of 7/31/2014.
English and Spanish versions of the revised Direct Subsidized/Unsubsidized Loan MPN will be implemented in the Common Origination and Disbursement (COD) System and the StudentLoans.gov Web site in November 2012.
Related Documents
Plain Language Disclosure (PLD) - The PLD for Direct Subsidized/Unsubsidized Loans has also been revised to reflect all changes that are included in the revised Direct Subsidized/Unsubsidized Loan MPN.
Addendum to Direct Subsidized/Unsubsidized Loan MPN - The Addendum to the Direct Subsidized/Unsubsidized Loan MPN explains the temporary loss of the interest subsidy during the grace period on Direct Subsidized Loans with a first disbursement date on or after July 1, 2012 and before July 1, 2014. We provided information on this temporary change to the terms and conditions of Direct Subsidized Loans in Dear Colleague Letter GEN 12-01.
English and Spanish versions of the PLD and Addendum are available for bulk order and will be implemented in the COD System in November 2012.
Contact Information
If you have questions about the information in this announcement, contact the COD School Relations Center at 800/848-0978. You may e-mail CODSupport@acs-inc.com.