financial aid basics
WHAT AFFECTS MY AID?
Bayramian Hall, first floor
(west of the Oviatt Library)
Monday and Thursday, 8:30 a.m.-4:30 p.m.
Tuesday and Wednesday, 10 a.m.-6:30 p.m.
Friday, 8:30 a.m.-4 p.m. Counseling Hours
Monday: 10 a.m.-3 p.m.
Tuesday and Wednesday: 10 a.m.-5:30 p.m.
A referral slip is required from the first-floor financial aid window. Visits with a financial aid counselor are limited to 15 minutes. Please have your questions ready.
Please be in line at least 30 minutes before closing; hours are subject to change.
Master Promissory Note (MPN)
What is a Master Promissory Note?
The student loan process is made much simpler with the Master Promissory Note, a legal document signed the first time you borrow student loan funds through the direct loans program at Northridge. It's your legal promise to repay all the funds you receive.
In most cases, you only need to sign the document once for all the years you borrow while in school. You will need to sign a new MPN if you attend a school that uses a different type of MPN. You must sign your MPN electronically by visiting the Department of Education.
How does the MPN make the student loan process easier?
The MPN essentially opens a line of credit with the Department of Education for education expenses during your academic career. By signing the MPN, you're agreeing to repay the loan under its terms and conditions. This means you can receive additional federal Stafford loans throughout your academic career without submitting additional promissory notes.
Once I sign the MPN, how long does it last?
Your MPN is good for 10 years from the date you sign it. However, you might have to complete a new MPN if you transfer to a new school. Remember, you must still complete a Free Application for Federal Student Aid (FAFSA) yearly.
What is my national ID number?
Your national ID number is your Social Security number.
Can I keep track of my student loan debt?
Absolutely — taking an active role in your student loans will ensure you don't borrow more than you need. The Department of Education, lenders and schools are required to keep you informed about debt, eligibility for more loans, and when new loan funds are added to your account. You also have the opportunity to decline all or part of a new loan, and to opt out of the loan process entirely. To view all your student loan debt, go to the National Student Loan Data System.