first time getting federal loan?

Paying for College
1

<p>I'm getting 5500 in federal loans for next year. the college sent me a email telling to that because it's my first time getting fed loan, I have to complete the Master Promissory Note. is there a deadline for when I have to complete this?</p>

2

<p>No deadline as such. Just get it done in time for your loan to be disbursed in time to pay for classes. (or do it now so it is out of the way)</p>

3

<p>Do students do the promissory note each year…or is it a one time thing? Just curious.</p>

4

<p>In my somewhat limited experience, you just do it the once. Though if you move schools I seem to recall that a new one was required. And I think when a school changed from Stafford to Direct a new one was required (won’t be an issue not of course as they are all direct).</p>