When borrowing through the Federal Perkins Loan program, you must sign a Master Promissory Note (MPN) agreeing to pay back the loan, with interest, according to the terms of the program. You will be sent an email notification with instructions. Once you have received these instructions, you may access the Federal Perkins MPN here. Please print out, complete and sign the Federal Perkins MPN and return it to the Business Office as soon as possible. It may be dropped off in person or mailed to the following address:
Attn: Business Office
Madison, NJ 07940
Prior to the 2012-2013 academic year, borrowers signed an MPN for every year they were awarded the Perkins Loan. Beginning Fall 2012 forward, all borrowers will sign one 10-year MPN, good for all loans disbursed by Drew University in the ten years from the date the note is signed.
Borrowers will also be required to stop by the Business Office to sign the Truth-in Lending (TIL) Statement. This form will be made available at the Business Office by the Perkins Loan Representative. This form details the amount borrowed for the current academic year, cumulative amounts borrowed and annual percentage rate for the loan.
Once the MPN is completed and returned and the TIL has been signed, the loan may be disbursed to the borrower’s account.
If you have any questions during this process please contact the Perkins Loan Representative at firstname.lastname@example.org.