<p>^ Yes, ED should be used only for that one dream school which would be attended above all others if there is any way to make it work financially.</p>
<p>The amount of loans in an ED FA package could cause the student to decline the offer, but it shouldn’t 
prevent applying ED to the dream school. </p>
<p>Loans made as part of FA (Perkins and Stafford) are capped by federal rules ($4,000 per year for Perkins, $23,000 total for Stafford). A school’s Common Data Set section H5 gives the average per-borrower cumulative undergraduate indebtedness of those receiving loans as part of financial aid from the school.</p>