<p>Hi, I'm taking on three loans this academic year the Fed Direct Subsidized + Unsubsidized Loan, and the Fed Direct Parent PLUS Loan. Since I'm a new borrower I was wondering whether my parents should sign one MPN and it will cover all three loans, or do I have to sign an MPN for the federal direct sub and unsub loan, and then my parents sign one only for the parent PLUS loan? Thanks in advance!</p>
<p>You sign the promissory notes for your loans.</p>
<p>Your parents sign for Plus.</p>
<p>How much are you all borrowing?</p>
<p>Make sure that the PIN used for the PLUS MPN is in the name of the parent who applied for the PLUS. Often mom will do the FAFSA PIN, but dad’s name is used on the PLUS application. When the parents go to sign the PLUS MPN, they use mom’s PIN … and the loan never pays out, because it’s the wrong PIN.</p>
<p>The reason the PIN for the Stafford MPN is your PIN is because the Stafford is YOUR loan to repay. The PLUS PIN is the parent’s because the PLUS is the PARENT’S loan to repay.</p>