Schools may choose to collect promissory notes from their students as a condition to process their CommonLine loans. Components and pages enable schools to enter promissory note information to be used by the loan origination process before the loan is originated. The origination process uses information from the promissory note pages to determine the loan destination, process level, and MPN serial loan status.

 

After a loan is originated for a student, all promissory notes entered for the same loan type cannot be used for new loans. Both CommonLine versions, CRC and CL 4, use the same components and pages for tracking promissory notes.

 

In this topic, you will enter Promissory Note data necessary to determine the loan destination, process level, and master promissory note serial loan status for a student.

 


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