Do I Have to Accept All of the Student Loans in my Offer Letter?

You’re waiting for a college to accept you… Once you have been accepted into a school, the college will send you a financial aid offer letter—a financial aid package that dictates how much aid the school is willing to give you, including loan offers. Should you accept all the student loans or should you only accept a portion of it?

A stack of hundred dollar bills fanned out.

What if it’s more student loans than you’re willing to accept?

Sometimes the loan amount offered is beyond what a student would actually need to take out in order to pay for college, in which case many students wonder if they are required to accept all that’s offered in the offer letter.

The short answer: No, you do not.

Offer letters are not as set in stone as you may think. Not only might the scholarship amounts shift a little, but you can potentially appeal an offer letter for additional aid than they initially offered you. So no, you do not have to accept the loan offers provided.


Credibe company logo.

Compare rate offers from about 8 lenders

Variable APR from 4.98% - 16.85% with auto-debit

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Look over your loan amount

In fact, we recommend that students and families take a hard look at the loan amount—if the loan exceeds the amount you would need to take out in order to pay for college, it’s best to ask for less. Always, always, always take out the least amount in loans as possible—that way it’s less to pay back after graduation, thus reducing your overall student loan debt.

Use College Raptor to discover personalized college matches, cost estimates, acceptance odds, and potential financial aid for schools around the US—for FREE!


Lender Rates (APR) Eligibility
Citizens logo.
5.99%-16.48%* Variable
4.39%-15.45%* Fixed
Undergraduate and Graduate
Sallie Mae logo.
6.37% - 16.70% Variable
4.50% - 15.49% Fixed
Undergraduate and Graduate
Credibe company logo.
4.98% - 16.85% Variable
4.24% - 16.39% Fixed
Undergraduate and Graduate
Lendkey company logo.
5.98% - 13.74% Variable
3.99% - 12.61% Fixed
Undergraduate and Graduate
Ascent company logo.
6.23% - 16.09% Variable
4.29% - 15.96% Fixed
Undergraduate and Graduate
6.54% - 11.08% Variable
3.95% - 8.01% Fixed
Undergraduate and Graduate
Earnest company logo.
5.62% - 16.85% Variable
4.39% - 16.49% Fixed
Undergraduate and Graduate
6.00% - 14.22% Variable
4.50% - 14.22% Fixed
Undergraduate and Graduate
College Raptor is not a loan lender and does not assume responsibility for suggesting a loan to a user who may not be eligible for it. Rates, terms, conditions, eligibility, approval, and other considerations are the decisions of the lenders and may vary depending on which lender or marketplace the user selects. We urge users to carefully consider and review all loan options and terms before committing to taking out a loan.

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