Posted Date:December 15, 2016
|Author:||Sue O'Flaherty, Service Director, Program Management, Federal Student Aid|
Subject: Revised Master Promissory Notes for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans (Paper Versions)
We are pleased to announce the availability of the revised Master Promissory Notes (MPNs) for Federal Direct Stafford/Ford Loans and Federal Direct Unsubsidized Stafford/Ford Loans (Direct Subsidized/Unsubsidized Loan MPN), as well as for Federal Direct PLUS Loans (Direct PLUS Loan MPN). Detailed implementation guidance for schools that will print and use paper English versions of the revised Direct Subsidized/Unsubsidized Loan MPN and Direct PLUS Loan MPN is attached to this announcement.
Revised Direct Subsidized/Unsubsidized Loan MPN and Direct PLUS Loan MPN
The Office of Management and Budget (OMB) has approved a revised Direct Subsidized/Unsubsidized Loan MPN under OMB Control Number 1845-0007, and a revised Direct PLUS Loan MPN (for parent borrowers and graduate/professional student borrowers) under OMB Control Number 1845-0068. The new expiration date for both MPNs is 04/30/2019.
Paper English versions of the revised MPNs are available for bulk order from the FSAPubs website. Spanish versions of the revised MPNs are only available for borrowers to complete electronically on the StudentLoans.gov website.
Note for EDExpress Users: EDExpress print functionality for the MPN, MPN Manifest, and Disclosure Statement is being discontinued. Beginning with this revision to the MPNs, EDExpress will no longer be updated to print the latest revisions to the Direct Subsidized/Unsubsidized Loan MPNs and Direct PLUS Loan MPNs, as well as the disclosure statement documents. Users wishing to obtain hardcopies of the latest versions of these documents may do so via the StudentLoans.gov website or the FSAPubs website. For more information about the EDExpress change, refer to an October 27, 2016 Electronic Announcement.
Plain Language Disclosures (PLDs)—The PLDs for Direct Subsidized/Unsubsidized and Direct PLUS Loans have also been revised to reflect all changes that are included in the revised MPNs.
The English versions of the revised PLDs are available for bulk order from the FSAPubs website.
If you have questions about the information in this announcement, contact the COD School Relations Center at 800/848-0978. You may also email CODSupport@ed.gov.