Rights and Responsibilities
For each aid year for which you borrow in the future, you will need to sign a new Rights and Responsibilities Statement to receive your loan funds.
Students with Nursing/Health Professions loans must complete exit counseling through the U-M Student Loan Collections. Borrowers must complete an exit interview for each loan when they graduate, withdraw, or drop below half-time attendance. Failure to do so will result in an “exit hold” being placed on your record. Heartland Campus Solutions ECSI (ECSI) handles these exit interview for the U-M Student Loan Collection Office. You will receive a notification from ECSI when this is required. Visit the Student Loan Collections website for information.
Master Promissory Notes
The Master Promissory Note (MPN) is a "master" note, which authorizes the university to credit the loan funds to your U-M student account for multiple years. To receive your loan funds, you must sign an MPN the first time you are awarded a Health Professions and/or Nursing Loan. After the first time, you will not need to sign another one for the duration of your University of Michigan education.
Please note that some students may be required to sign more than one MPN, depending on which loan programs they are borrowing from. For example, if you have a Nursing Student Loan and a Direct Loan (Subsidized and/or Unsubsidized), you must sign MPNs for both loans. You will receive separate notification about how to complete a Master Promissory Note for the Direct Loan. You can also find out which documents you must sign by checking the "View Document Status" page in Wolverine Access.