MASTER PROMISSORY NOTE

Transcription

1 MASTER PROMISSORY NOTE You have received this as a reminder that you will have to sign a master promissory note (mpn) with the Guarantor (NELA) in order for your loans to be released to the University. If you have previously signed a mpn but consolidated, paid off a previous loan, changed lender (Bank), filed bankruptcy or the mpn is no longer valid you will have to sign a new mpn with the guarantor. Please visit Nela s website at then go to online loan application on your right hand side of the screen, it will ask for the school: Heritage University, at this time a pop up screen will ask you to Log In, if you are not a current member to this site you will have to CREATE A NEW ACCOUNT. Once you have created an account, you can go in and view your status and sign your master promissory note online. If you happen to have a problem please call Nela at with questions pertaining to your mpn. If you are not sure why you received this , please contact me at this address. Thank you for your promptness on this issue. HOW TO SIGN ELECTRONICALLY: School Initiated with E-signature Online Loan Application Process Click on Online Loan Application as shown below

2 Then you will enter Heritage University, see below:

3 Make sure you allow pop ups screens to appear. This will take you to this log in page with Open Net

4 If you are new to Open Net, they will first need to create an account by clicking on the Register tab. After following the instructions the borrower will be able to continue on through the loan process.

5 From this page, borrowers can complete their application in a school-initiated flow (the school has already certified the loan). Click on Complete Your Stafford Master Promissory Note The borrower can also check their loan status here as well as update their demographic information.

6 After clicking on the Go icon next to the loan they wish to complete, the borrower will see a summary of the loans that are available for them to finish. The borrower will select the Complete/e-sign tab next to the loan they wish to complete.

7 The borrower will now be asked to provide and/or review their demographic information. (Some of this information may be pre-populated) NOTE: A red asterisk indicates that this is a required field.

8 Depending on the lender, the lender s privacy policy may be available.

9 This page lets the borrower know the remaining steps to completing their application.

10 The borrower will input their information as requested. (If the borrower does not have an address N/A is acceptable)

11 Next, the borrower is asked to provide 2 references.

12 At this point, the borrower is asked to review the summary of the information they have provided thus far.

13 If any revisions are necessary, the borrower may select the Edit Data tab. Otherwise, they can select the Submit Application tab and continue the application process.

14 For schools participating in e-signature, the borrower is told that they have the option to submit their MPN with an electronic signature. Open Net explains what an electronic signature is and why it is beneficial.

15 The borrower then chooses whether or not they wish to e-sign their application or if they would prefer to sign a paper copy.

16 Next, the borrower chooses whether or not they have a suitable printer to print their own copy of their MPN or if they would prefer a copy be mailed to them.

17 Borrowers electing to e-sign must complete 2 steps.

18 The first is to review and agree to the terms and conditions of the promissory note. Here, the borrower can agree and continue with the e-sign process or still opt out and complete a paper MPN.

19 The borrower submits their electronic signature by typing in their legal name in the boxes provided.

20 The borrower is notified that they have successfully e-signed their MPN. They are then instructed to print their MPN (if they indicated that they had a suitable printer earlier)

21 Finally, the borrower receives confirmation that their application is complete and an confirmation will be sent to the borrower s address (if applicable).