Master Promissory Note
Now that you have completed your financial aid application, there is one more step to complete in order for your funds to be disbursed, The Master Promissory Note (MPN). The MPN is the actual loan application which is sent to your lender. You will receive information by mail from American Student Assistance (ASA), which is the guarantee agency for Massachusetts, with instructions on how to complete your MPN online. Please note: you will need to create a password with ASA and you will also need your FAFSA password in order to electronically sign your MPN application.
Students applying for Stafford Loans through American Student Assistance (ASA) will receive notification that a Master Promissory Note can be done online during the summer. This application needs to be e-signed and transmitted to ASA promptly. If necessary a paper application can be requested by calling ASA at 1-800-999-9080 extension 5010.
Students receiving a Stafford Loan will be notified by the Office of Student Services once the loan funds have been received. Instructions will be included if the student is required to endorse the check or complete entrance counseling. Students may visit Agora to see if a loan has been received by the Office of Student Services.
Please note: Federal Loan Regulations allow students 14 days from the date of notice that the loan was applied to their account to notify the school if they wish to have their loan cancelled. Students must notify the Office of Student Services in writing of their intent to cancel their loan. Students who request that their Federal Loans be cancelled will be responsible for any resulting balance on their account. Students will not be allowed to register for the next semester if their balances have not been paid.
Entrance Counseling
If you are an incoming student or first time borrower at Boston College, under
the Federal Stafford or Perkins loans, you will need to complete entrance counseling.
Entrance counseling is required for all federal loan borrowers per federal regulations
and must be completed before loans proceeds can be disbursed. Please go to 
www4.bc.edu/student/loan.counseling
to complete your counseling.