Lenders May Use Date of Receipt to Track Validity of MPN With Incorrect Date

With the recent calendar-year change, lenders may receive Master Promissory Notes that were incorrectly dated by borrowers with the year 2006. USA Funds^® reminds lenders that in these cases, per Common Manual  7.2.A, they may use the date that the MPN was received to track its validity. For more information about this or other education-loan-policy issues, contact USA Funds’ policy advisers.