However, our opinions are our own. See how we rate student loans to write unbiased product reviews. A Master Promissory Note (MPN) is an agreement between you and the government to repay your debt.

or PLUS loans. A promissory note is your "I owe you" contract-think of it as your handshake with the lender, locking in your commitment to pay back the principal, plus interest, on a set schedule.