Financial Aid Award Acceptances: Can you accept for more than one?

[versus]

Can you accept more than one financial aid award? I have a few acceptances, but I'm still deciding where to go. I'm getting the award letters now, and I'm not really sure how it works. Is there any penalty for accepting more than one before I have to drop to one school in a few weeks?

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[NickNaylor]

Why would you accept financial aid awards if you don't know if you're going to a school? Is there a time limit?

As long as you don't tell a school that you're matriculating you should be fine.