Please make sure that you understand all of this information so that you can responsibly undertake the repayment obligation of a student loan.

The new Master Promissory Note (required by the Federal government) is quite different from the previous promissory notes. The greatest difference is that THE AMOUNT OF YOUR LOAN IS NO LONGER INDICATED ON THE PROMISSORY NOTE. While this simplifies many aspects of loan administration, some students may be uncomfortable in signing a promissory note that has no amounts listed on it. Regrettably, schools do NOT have an option to use a different promissory note that would show the loan amount. Please be assured that you are accountable ONLY for those loan funds actually DISBURSED to your account through our accounting system.

You will receive an e-mail message on your CSUB RunnerMail e-mail account EACH TIME LOAN FUNDS ARE DISBURSED TO YOU. This will help you to maintain an accurate record of funds paid to you. If you wish to REDUCE the amount of the loan you will receive, complete PART 2 of the Change of Circumstances form . Lastly, you should remember that the amount of your loan is actually three percent (3%) LARGER than the total of amounts disbursed to you, due to the three percent origination fee retained by the Federal government.

Data elements 1 through 6, Section "A" on the top-most section of the Promissory NOTE, will be pre-printed with information supplied by you on your initial application for financial aid. Please examine this data to make sure it is correct and complete. If you need to make corrections, please use blue or blank ink, and initial each change. Make sure to fill in any fields that are missing data. The areas for Driver's License (#1) and e-mail address (#3) may be left blank if you do not have a driver's license or an e-mail address. Complete the References section (#7) fully and carefully. Students are encouraged to make a parent ONE of their references, but that is not an absolute requirement. In general, your TWO references SHOULD have known you for at least five years, be likely to continue to know YOUR address and phone number for the near future, and NOT have the same address. A full street address and phone number are required for both references. The Federal contractor, who processes Direct Loan payment eligibility, will reject your promissory note if data is missing from either of your References.

After you have made sure that the promissory note is accurate, please sign and date the form at items fifteen (15) and sixteen (16). Because the Federal contractor frequently rejects signatures that the contractor's staff regard as illegible, please make sure that your signature is reasonably readable and agrees with your full name as printed at item four (4). For example, if your name is "Robert", do not sign "Bob", as courts have ruled that such promissory notes may not be legally enforceable. If the Federal contractor rejects your promissory note, there will be a three to four week delay in the disbursal of the direct loan.

When you are sure the promissory note is complete, needs no additional changes, and you have signed it, please return it in person, or by mail to the following address:

Office of Financial Aid & Scholarships
California State University, Bakersfield
9001 Stockdale Highway 48SA
Bakersfield, Calif. 93311-1022