Do most schools have deadlines for loan acceptance?

My school sent my list of loan awards, then gave me a 2-week time limit to accept or decline. If I do not select loans within 2-weeks, they disappear. The loans are for Summer 2013, so it seems strange to accept so early. Is this common policy of schools?

 

I'm guessing that the acceptance issue is similar to being accepted (admitted) into the school in general. There are only a certain number of slots available in any given year. If you are offered one of these slots and then decline that opportunity there is still sufficient time to offer that same slot to another candidate. So it might be with the loans situation. There is a finite amount of money that can be distributed. If you do not accept the loan then it can be offered to another. It's better for all to have deadlines. I'm imagining that this is the situation.

 

My school has not even posted the tuition rates for the fall, yet I must accept how much I will take in loans now or else risk ending up losing the loan offer. I don't even know how much the classes will cost, so how can I accept a loan?

 

Last year's rate +5% would be my guess.