As a student, your undergraduate federal student loan limit for your entire undergraduate career is $57,500. $5,500 is the maximum in loans a first year, dependent student can receive whose parents are eligible to borrow a Parent PLUS loan on their behalf. Based on the fact you were only offered unsubsidized loans, I'm guessing you may not be Pell eligible and your EFC (from your completed FAFSA) is fairly high. As a previous poster said, people do consider school debt to be "good" debt. It is definitely recommended to not take any more loan eligibility than you need to meet the cost of your tuition, housing, books, and fees. You do have the option to decline any excess which is sent to you. The main thing about receiving loans is basically knowing what you are getting yourself into. It is a great thing that they are available, but you'll want to make sure you take advantage of them, do well in school, and put yourself in a position post-graduation where you'll have the least amount of debt possible and be able to pay them off.