100% of the tax shown on your 2014 income tax return (110% of that amount if the adjusted gross income shown on the return was more than $150,000 ($75,000 if your filing status for 2015 will be married filing separately)).
You will need the following items to complete and electronically sign the MPN: 1  Your Federal Student Aid ID. 2  Your full legal name, social security number, and date of birth. 3  You will also need to provide names, addresses, and telephone numbers for your next of kin and two references.
Files will be sent between Direct Lending and Purdue University to process the loan application. Approximate time for the loan to credit the bill after the application is completed online and credit approved is 5-7 business days. A Master Promissory Note (MPN) also needs to be signed at the above-mentioned website.