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Host: What is a Master Loan Promissory Note?

Brad Barnett: When you apply for Federal Student Loans, you have to complete a Master Loan Promissory Note. This is, think about from a perspective, if you had a house loan or a car loan or any type of loan you take out, you have to sign a promissory note. It tells you what your rights and responsibilities are, tells you this is a loan and you do have to repay it. The same thing is true with federal loans, you need to submit and complete a Master Loan Promissory Note when you first start taking out your loans

Expert: Brad Barnett

Brad received his Bachelor of Science degree from Southern Arkansas University, with a major in Psychology and a minor in Business.  He furthered his education by graduating from the Medical College of Virginia at Virginia Commonwealth University with a Master of Science degree in Rehabilitation Counseling, specializing in Mental Health.  He has been involved in the financial aid and/or rehabilitation More »

About This Video

In this video, Mr. Barnett defines some important financial aid terminology that will assist you in understanding more about financial aid in general.

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Tags: Financial aid, College, Graduate, School, University, Scholarship, Scholar, Study, Grant, Loan, Application  

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