Do my daughter have to sign a master promissory note if she is receiving a scholarship?
My daughter was offered a athletic scholarship by a college. I had already completed her FAFSA so she had that grant money, and then she was offered a athletic full scholarship by a coach at this college. Just this past week a letter came in the mail from the college saying thank you for your request for financial assistance, but we will need a Master Promissorry Note-DL not received by you.
I was confused because at the Junior college she attended two years ago, she was offered a scholarship and was not asked for a promissorry note, and also received the FAFSA grant money. From my understanding a Master Promissorry Note is agreeing to pay back a Loan, which we had not apply for one, because of the promise of a full scholarship, and her grant approval? Do I have cause to be concern about this matter or do some colleges ask for a master promissorry note for scholarships now?