Hi! I was accepted at my top choice with ~75% tuition scholarship (tried negotiating, no change). I have accepted the $20,500 Federal Direct Unsubsidized Loan in order to cover the remaining tuition. To cover the remaining cost of attendance, the school has offered ~$40K in a Grad PLUS Loan (I am assuming I am eligible for the full amount because I have a good, long credit history, but the application doesn't actually open until June/July).

Here's where I'm running into trouble. I do not need the full $40K and did not plan to accept the whole thing. I have also applied for numerous outside scholarships, which have the potential to make a big dent in my COA need - but I haven't heard back yet. However, the school requested that I respond to their financial aid offer by the end of the month.

Will I be able to make changes to the Grad PLUS Loan amount later? I am really scared to take on all this debt and applied for scholarships to minimize it! Should I accept the whole thing? Accept the amount I anticipate needing? Thank you so much for your help!