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What is the primary purpose of signing a Master Promissory Note (MPN) for federal student loans?

A To apply for specific federal grant programs.
B To formally agree to the terms and conditions of a federal student loan.
C To consolidate multiple federal student loans into one.
D To authorize the college to disburse loan funds directly to the student.

✓ Correct Answer: Option B

The Master Promissory Note (MPN) is a legal document where you promise to repay your federal student loans and agree to all the terms and conditions, and it can be used for multiple loans.

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