Problemas
A student who receives a Direct Stafford Loan must complete the __ in which he or she promises to repay the loan. A. Loan Repayment Form B. Master Promissory Note C. Federal Repayment Letter D. Credit Payment Note
Roztwór
Marcelo
maestro · Tutor durante 5 años
4.7
(282 Votos)
Respuesta
B. Master Promissory Note
Explicación
## Step 1The question is asking for the document that a student must complete when they receive a Direct Stafford Loan. This document is a legal agreement between the borrower and the lender, where the borrower promises to repay the loan.## Step 2The options provided are: Loan Repayment Form, Master Promissory Note, Federal Repayment Letter, and Credit Payment Note.## Step 3Among these options, the Master Promissory Note (MPN) is the correct answer. The MPN is a legally binding agreement between the borrower and the lender, where the borrower promises to repay the loan.## Step 4The MPN also includes important information about the loan, such as the loan amount, interest rate, repayment terms, and the consequences of default.