Promissory Note

A promissory note is a written promise to pay a specified sum of money to a designated person, his or her order, or to the bearer of the note at a fixed time or on demand.

Click here for information about Perkins Loan MPNs 

No matter which student loan you choose, you must choose a lender. IPFW is committed to assisting you with your decision to take a student loan. No matter what lender you choose, we are available to help you review your options and make a considered decision. The preferred lender list is valid for both federal Stafford loans and private "alternative" loans. You can complete an MPN for either type of loan at the link below.

Effective Fall, 2009, IPFW published a preferred lender list for students. Lenders who are on the list have met the following criteria:

• They are active in Federal Loan programs
• They have provided federal student loans to IPFW students for the past several years.
• They have shown their commitment to swift and efficient services by adopting a compatible electronic process.

If your lender is:	How to complete MPN
A Preferred Lender: Citibank, Discover, EdAmerica, Fifth Third Bank, National City/PNC, Sallie Mae, Wells Fargo	Click here to complete your MPN on the FastLoans website
Other lenders not on Preferred list	Contact your lender for instructions on completing your MPN

Click here to download a Choose A Lender form.

Whatever lender you choose, IPFW will process your loan information in the same amount of time. Students who opt for a preferred lender will benefit from an electronic process that is compatible with both IPFW and the preferred lenders, resulting in a faster and easier process in getting loans disbursed.

To learn about the loan features that should be meaningful to you, we suggest you investigate each link, and give some thought to the following issues:

Things to look for when you compare lenders:

• Lenders are free to offer additional benefits to you either up front, before you take the loan, or when you go into repayment.  Be sure to ask if the benefits are automatic and if not, what do you have to do to get them. Definitely ask, “How many people actually get this?”
• Give them a call and try out their customer service. Do you get a menu you can understand, or a person who is knowledgeable and helpful? Are they open hours that are convenient to you?
• Will your lender provide all you with all billing and information services during the repayment of your loans or do they sell or contract loan management to another agency. Is that important to you?
• Do they seem protective of your private information such as social security number and password information? Ask about their policies for protecting these.
• Do they have a web site that looks professional, that provides you with electronic access to your loan account if that is important to you? Look at their repayment information and see if the tools they offer seem useful.

Perkins Loans

As of the 2008-2009 academic year, all IPFW Perkins borrowers will be able to complete an Electronic Master Promissory Note (eMPN) through Educational Computer Systems, Inc (ECSI).  This eMPN is your promise to pay your loans back after you graduate or cease half-time enrollment.  The Perkins loan funds will not disburse without the EMPN and entrance interview are completed. 

You will receive an email with instructions on how to access ECSI’s web site and complete your eMPN and entrance interview.  You will receive this email at your ipfw.edu email address. 

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