On the site, it says that if I need to use private loans to pay for the rest of my tuition, etc, I should apply for one as soon as I get my acceptance letter. But I also wanted to apply for scholarships from the university that accepts me. If I apply for a loan for, say, $10,000 and I end up getting $5,000 in scholarships later, what course of action should I take?

If you end up taking out a bigger loan then you end up needing you can have your school send back any surplus funds directly back to the lender.

Thanks a lot!