Unsecured promissory note. Unlike a secured promissory note, an unsecured promissory note is for loans that are not backed by collateral and rely solely on the borrower’s promise to repay the debt.

How Promissory Notes are Repaid There are several different structures for repayment of a promissory note, but most involve repaying the principal plus interest. The interest rate can be fixed or ...

Entrance Counseling and Promissory Note Signing Entrance counseling is a federal and institutional requirement for all student loan borrowers. All first-time Stafford Loan and borrowers must complete ...