Can I dispute a drop in my credit score?

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I applied for a personal loan of $200, and there was a slight drop in my credit score. I ended up not taking the loan because I didn't need it. It went back up the next month, but I wanted to know if it was possible for me to dispute that slight drop and possibly get a higher score? As you can tell I am not very well educated in the credit world yet.

Can I dispute a drop in my credit score?