diff --git a/common/djangoapps/student/views.py b/common/djangoapps/student/views.py
index 3b6198d33d5e624add22bc2e8481e91532de9717..2f416aad11764bda1f04d560c59d8b4d0020f1ac 100644
--- a/common/djangoapps/student/views.py
+++ b/common/djangoapps/student/views.py
@@ -33,6 +33,7 @@ from django.views.decorators.http import require_POST, require_GET
 from ratelimitbackend.exceptions import RateLimitException
 
 from edxmako.shortcuts import render_to_response, render_to_string
+from mako.exceptions import TopLevelLookupException
 
 from course_modes.models import CourseMode
 from student.models import (
@@ -147,12 +148,14 @@ def embargo(_request):
     Render the embargo page.
 
     Explains to the user why they are not able to access a particular embargoed course.
+    Tries to use the themed version, but fall back to the default if not found.
     """
-    if settings.FEATURES["USE_CUSTOM_THEME"]:
-        template="static_templates/theme-embargo.html"
-    else:
-        template="static_templates/embargo.html"
-    return render_to_response(template)
+    try:
+        if settings.FEATURES["USE_CUSTOM_THEME"]:
+            return render_to_response("static_templates/theme-embargo.html")
+    except TopLevelLookupException:
+        pass
+    return render_to_response("static_templates/embargo.html")
 
 
 def press(request):