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Create a free Promissory Note (also known as an IOU) to document your loan.
Copies of the Note should be given to the borrower and lender as well as a third party.
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Any sample loan document you sign as a student have the same legal consequences as those of a person borrowing elsewhere. The document holds the borrower accountable for paying back the money (plus interest, if any). A Promissory Note, also referred to as an IOU, is a contract documenting a financial promise between two parties.
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