Eligibility for Use of Multi-Year Feature of MPN
The U.S. Department of Education (ED) recently released a Dear Partner Letter GEN-00-03 regarding the use of the multi-year feature of the Master Promissory Note (MPN) by four-year and graduate-level schools. The multi-year feature of the MPN allows many students to obtain additional FFELP loans without having to sign a new promissory note. The multi-year use of the MPN is currently available only at schools that meet the following two conditions:
If the school meets both of the above qualifications, the school may use the multi-year feature of the MPN, assuming the other requirements of the MPN process have been met. These requirements are outlined in GEN-98-25, GEN 99-8 and the final regulations regarding the MPN published in the November 1, 1999 Federal Register (see UHEAA Bulletin Volume 98 - Issue 103, Volume 99 - Issues 27, 51, and 78). If the school is eligible, the multi-year feature applies to all students, even those who are not enrolled in four-year or graduate programs.1.On the school's Eligibility and Certification Approval Report (ECAR, page A-2), one of the following categories is listed: Master's Degree, Doctor's Degree; First Professional Degree; Professional Certification; or, Bachelor's Degree.2. The school is located in the United States.
Questions regarding this Dear Partner Letter should be directed to ED's SFA Customer Support Service at 1(800) 433-7327. A copy of GEN-00-03 can be obtained from ED's web site at http://ifap.ed.gov. If you are unable to access ED's web site and would like a hard copy, please contact Lynda Reid at (801) 321-7211. Any questions regarding this Bulletin should be directed to the UHEAA Policy and Training Department at (801) 321-7166 or by e-mail at cjudd@utahsbr.edu.