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How To Accept Your Loan Award
Loan Process
Navarro College will inform you that you have been awarded a loan by means of a Financial Aid Award Letter
. If you wish to accept the loan, complete all steps of the process. Remember, you do not have to accept the entire amount you are eligible for. Borrow responsibly and know your rights and responsibilities.
Read this important note regarding available lenders before guaranteeing your loan.
- Complete online loan entrance counseling (if you are a new borrower)
- Complete yourLoan Award(s) by going to Loans by Web to guarantee your loan, and
- Sign your MasterPromissory Note (MPN). You may sign,date, and mail a printed MPN to your lender (The address will be providedfor you) OR you may E-sign* your MPN by going back to Loans by Web.
*Several banks offer the "e-sign" feature. Have your PIN number handy in case it is required in order to e-sign Master Promissory Note. However, you may not need your PIN. Some lenders use a transaction number, unique to your loan, identified within your Master Promissory Note. Be sure you understand what your lender requires, whether it is a PIN or transaction number.
If you already have a Master Promissory Note on file with your lender since July 1, 2004 you may not have to print, sign and send another one to your lender. They may use the one already on file to process additional loans.
Your Master Promissory Note
The Master Promissory Note (MPN) is a binding contract between you and your lender. You are promising to pay back the funds loaned to you.
You will be required to fill out a promissory note if you change lenders or file bankruptcy.
Important Note!! If you have chosen a lender (usually out-of-state) that does not guarantee their loans through TGSLC, you must provide our office with a completed Loan Certification Form provided by your lender or guarantor.
