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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?
1 Answer
- Donald BLv 710 years agoFavorite Answer
You need to call the college. It is strange to have to sign it if she is getting scholarships. However, if she were hurt and unable to play she might lose the scholarship so maybe they are protecting themselves in that case. Whatever the reason, you need to talk to the school as different schools have different policies if they give the scholarship.