All current FFELP borrowers and any new borrower will have to sign a new electronic Federal Direct Loan Application/Master Promissory Note (MPN).  The Direct Loan process will be completed online. The E-MPN can be completed at www.studentloans.gov. The MPN will only need to be signed once (good for up to 10 years); as loans are requested for subsequent years, the loans will be added to your Master Promissory Note. The MPN explains the terms and conditions of your loan and is your legally binding agreement to repay your loan to the Department.  Students will need the Department of Education issued PIN to complete the process.