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 414-229-4915.
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 "Online Loan Processes" in the right-hand navigation window. In the new window, select: "Existing Stafford Loan Borrowers" or "New Stafford Loan Borrowers" depending on your status. 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. You will be redirected to the online Entrance Loan Counseling site after signing your MPN if there is no record that this requirement has been completed.

If you have already completed an MPN and you need to complete Entrance Loan Counseling, select the Loan Counseling and Repayment link in the right hand-navigation window.

Parent Loan for Dependent Undergraduate Student (PLUS) Promissory Note

A parent applying for a PLUS loan must complete a PLUS application and a PLUS Master Promissory Note (MPN). The original PLUS MPN is valid for up to 10 years from the original signature date. However, each year the parent should initiate a PLUS preapproval process which involves a credit check performed by the current lender. This should be done beginning May 1st of the upcoming fall semester. If a PLUS MPN is already on file, the parent will be advised of this and offered the option of keeping the same MPN or choosing a different lender. The preapproval process maybe initiated online via our website.

All student PLUS borrowers are required to complete a Free Application for Federal Student Aid (FAFSA) before a Parent PLUS loan will be processed by the school. The FAFSA can be filed at http://www.fafsa.ed.gov.

If you are a parent interested in applying for a Parent PLUS loan, select the "Online Loan Processes" link located in the right-hand navigation window.

Graduate Student (PLUS) Promissory Note

A graduate or professional student must complete a Graduate PLUS application and Master Promissory Note (MPN). A graduate/professional student may borrow multiple loans under the same PLUS MPN for up to 10 years after the original signature date. However, each year the graduate/professional should initiate a Graduate PLUS preapproval process which involves a credit check performed by the current lender. This should be done beginning May 1st of the upcoming fall semester. If a Grad PLUS MPN is already on file, the student will be advised of this and offered the option of keeping the same MPN or choosing a different lender. The preapproval process maybe initiated online via our website.

All graduate/professional student PLUS borrowers are required to complete a Free Application for Federal Student Aid (FAFSA) before a Graduate PLUS loan will be processed by the school. The FAFSA can be filed at http://www.fafsa.ed.gov.

If this is the first time you are receiving a Graduate PLUS Loan, you must also complete Grad PLUS Entrance Loan Counseling before your loan money can be disbursed to you. To complete Grad PLUS Entrance Loan Counseling, select the Loan Counseling and Repayment link in the right hand-navigation window.