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Master Promissory Note

The MPN is a master promissory note required of all new borrowers of a Federal Direct Loan.  By signing the MPN you, the borrower, agree to repay all Federal Direct Loans (subsidized or unsubsidized) that are guaranteed using the note.

Because PCC participates in the Serial Promissory Note acknowledgement process, you may not be required to complete another promissory note while you attend PCC.

How do I Sign an MPN?

Complete a Master Promissory Note.

The U.S. Department of Education will notify us electronically that you completed your MPN. 

It may take up to a week for us to receive this confirmation and we will receive the confirmation only if you have completed all steps necessary for us to originate your loan.

Can I Change the Amount of My Loan?

Yes. When you accept your loan, you may choose to accept less than you are offered. 

If you have already accepted your loan and would like to borrow less, you may reduce the loan by completing the Federal Aid Cancellation Request form. 

If you reduce your loan after the money is disbursed, your next disbursement will be reduced or canceled.  If you have no remaining disbursements to reduce, you will be billed for the amount that you requested your loan be reduced. 

You may return an uncashed check to us, simply complete and submit the Returning Aid Received form to any Campus Cashier's Office or District Office Student Accounts.

If you are interested in borrowing an additional loan amount, you can submit a Federal Direct Loan Request form.

What Happens if I Transfer to Another School?

You must cancel any future disbursements scheduled at PCC if you are transferring within an academic year.  You can notify us by:

You should work with your new school's financial aid office to learn what information they need from you.