Addendum to the Direct Subsidized Loan/Direct Unsubsidized Loan Master Promissory Note
William D. Ford Federal Direct Loan Program
The Higher Education Reconciliation Act of 2005 (HERA) and the College Cost Reduction and Access Act of 2007 (CCRAA) changed some of the terms of
Federal Direct Stafford/Ford Loans (Direct Subsidized Loans) and Federal Direct Unsubsidized Stafford/Ford Loans (Direct Unsubsidized Loans) made
under the William D. Ford Federal Direct Loan (Direct Loan) Program. As a result, certain terms of the loan(s) you receive under a Direct Subsidized
Loan/Direct Unsubsidized Loan Master Promissory Note (MPN) differ from the terms described in the MPN and Borrower’s Rights and Responsibilities
This Addendum describes the changes made by the HERA and the CCRAA to the terms of Direct Subsidized Loans and Direct Unsubsidized Loans. Your
loan is subject to these changes. The loan term changes explained in this Addendum are incorporated into and made a part of the MPN that you sign and the
Borrower’s Rights and Responsibilities Statement. You should keep a copy of this Addendum with your MPN and Borrower’s Rights and Responsibilities
NOTE: The Office of Management and Budget (OMB) has approved the continued use of the Direct Subsidized Loan/Direct Unsubsidized Loan MPN
under OMB Number 1845-0007. The new expiration date for the MPN is 03/31/2008.
1. MPN, Section C: Borrower Request, Certifications, Authorizations, and Understanding. Effective for MPNs signed on or after July 1, 2006, by
signing your MPN you are certifying, under penalty of perjury, that if you have been convicted of, or have pled nolo contendere or guilty to, a crime
involving fraud in obtaining federal student aid funds under Title IV of the Higher Education Act of 1965, as amended, you have completed the
repayment of those funds to the U.S. Department of Education, or to the loan holder in the case of a Title IV federal student loan.
2. Borrower’s Rights and Responsibilities Statement, It