You can use one to determine how much you're paying each year toward the loan and other important details. The easiest option is to use an online promissory note template. If you want to be sure ...

However, our opinions are our own. See how we rate student loans to write unbiased product reviews. A Master Promissory Note (MPN) is an agreement between you and the government to repay your debt.

or PLUS loans. A promissory note is your "I owe you" contract-think of it as your handshake with the lender, locking in your commitment to pay back the principal, plus interest, on a set schedule.