Promissory Notes

Before loan funds can be disbursed, a promissory not must be completed. Many loan forms can now be completed online and serve as a master promissory note good for up to ten years.

Perkins and Nursing Loan Promissory Notes and Supplemental Application

If you were offered a Federal Perkins and/or Nursing Loan for the first time, you will need to complete the electronic master promissory note (MPN) which can be found in the "Online Loan Processes" area of our website. Read the message on the back of your award letter for details.

Promissory notes must be completed within 30 days or the loan will be canceled.

If you have questions about your Perkins/Nursing loan:

1. If you have questions regarding your current semester loan, please contact the financial aid department at 414-229-4541.
2. If you have questions regarding repayment or prior year loans, please contact the Bursar's Office at 414-229-4914.
3. If you need a copy of your Perkins/Nursing loan, please contact the Bursar's Office, Room 295, Mitchell Hall.

Federal Stafford Loan Master Promissory Note

Before Stafford loan funds can be disbursed, a promissory note must be on file.

By signing, you confirm you understand that UWM may make new loans for you for the duration of your education (up to 10 years) without having you sign another promissory note. You also agree to repay your lender, all loans made to you under the terms of the MPN.

While your signature on the MPN allows UWM to make multiple loans to you under a single note, you are not required to accept the amount that you are offered. You should notify UWM if you want to borrow a lower amount than the school has awarded you. In addition, you may cancel all or a portion of your loans after the funds have been credited to your account by notifying UWM in writing or by returning the funds to the Bursar's Office within 14 days. The Bursar's Office will notify you when loan funds have been disbursed to your account and allow you to return funds that you do not want. You will only be responsible for the loans you actually receive.

New Stafford Loan borrowers are instructed to complete the online version by clicking the starburst from the homepage. The PIN that was assigned by the Department of Education is required as this will serve as the borrower's signature. A PIN can be requested at http://www.pin.ed.gov .

If this is the first time you are receiving a Stafford Loan, you must also complete Entrance Loan Counseling before your loan money can be disbursed to you. After clicking on the starburst on the homepage, select the "New Borrowers" link, this will take you to Entrance Loan Counseling.

Parent Loan for Undergraduate Student (PLUS) Promissory Note

To apply for a PLUS Loan, which can be found in the "Online Loan Processes" area of our website and then select the link "Parent Loans"

The PLUS is a Master Promissory Note. The PLUS MPN will be good for up to 10 years or 20 disbursements. The parent won't need to complete a new loan application each year. However, each year the parent needs to begin the process through our website. This should be done beginning April 15 before the upcoming fall semester. The parent will need to have a credit check performed each year as well as answer some specific questions. If a PLUS MPN is already on file, the parent will be advised of this and given the option of keeping that lender or considering using a different lender. This is all done via the online link on our website.