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Glossary beginning with M

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Master Promissory Note

To take out a Direct Loan for the first time, you must complete a Master Promissory Note (MPN). You can complete the MPN online at the StudentLoans.gov website. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department. It also explains the terms and conditions of your loan(s). If you are applying for a Direct PLUS for the first time as a graduate/professional student, you'll need to complete and sign a PLUS MPN that is separate from the one that you use for your Direct Subsidized and Unsubsidized Loans.

Master's Degree

One of several degrees granted by graduate schools.

Maturity Date

The date when a loan comes due and the established monthly payments are required by law to begin.

Merit-based

Financial aid that is merit-based depends on your academic, artistic, or athletic merit, or some other criteria, and does not depend on the existence of financial need.

Missing Information Letter (MIL)

The Missing Information Letter (MIL) is created for and mailed to the student with an incomplete student record. Students are instructed to access their To Do List on myUNT for information about the outstanding documents.

Multiple Data Entry Processor (MDE)

Multiple Data Entry Processor (MDE) is a company that processes the FAFSA forms submitted by students. The College Scholarship Service (CSS) and PHEAA are both MDE Processors.