Two questions. One, can you fill out more than one Master Promissory Note, specifically for a different college? Also, are there deadlines on paying back loans?
You as an individual should only need one MPN - all of your loans will be tied to this MPN regardless of which schools they are for. Parents, however, must fill out a separate MPN for each dependent child who will be taking out loans.
Private loans start accumulating interest as soon as a borrower begins college, while federal student loans do not accumulate interest or require payments until six months after graduation. Federal loan payments are not due for all borrowers until September 1st when the national payment moratorium will end, unless policies change beforehand. Hope this helps!
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