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
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Marcelomaestro · Tutor durante 5 años
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4.7 (282 votos)
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B. Master Promissory Note
Explicar
## Step 1<br />The 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.<br /><br />## Step 2<br />The options provided are: Loan Repayment Form, Master Promissory Note, Federal Repayment Letter, and Credit Payment Note.<br /><br />## Step 3<br />Among 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.<br /><br />## Step 4<br />The MPN also includes important information about the loan, such as the loan amount, interest rate, repayment terms, and the consequences of default.
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