A student loan promissory note is a document that describes the relationship between a lender and a student. The lender can be a bank, a non-banking financial institution, a colleague from a teaching institution or even a loyal friend. A blank promissory note can be used to write all the rules to govern the loan, making both parties aware of the deal’s agreements and consequences on default.
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You can download the promissory note template for free online. Available formats include pdf, word and excel. The language used must be simple so that the student is able to understand. The terms and conditions of payments should also be fair.
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