Totally freaking out...why was I denied financial aid?

Question

Okay, so here is the situation. I was taking classes online through University of Phoenix (Axia). I completed 24 credits with GPA of 2.62. I moved away from the situation I was in that didn't allow me to go to a real school. I enrolled in my local community college. If I would have continued Axia, I would have earned an AA. I'm in a AS degree now which is so much better for me because I have a child and can't go to school for four years. Everything seemed to be going fine. I canceled my aid with UoP and thought I was granted aid with the community college. I checked online periodically to see what was going on with it. My grants, loans, etc was accepted until now. Now they all say denied. I only made $5000 dollars last year and I have a child so I know my income is not the issue.

Answer 1

I am guessing this is what happened...

You have surpassed your annual aggregate limit in funding.  What should happen in theory is that Axia will return the funds not used to the lender, unless you chose to manage your own account and spent the funding.  If Axia returns the funding, you will be eligible for your annual amount of aid, minus what Axia held for the tuition you owed on.  

If there was no funding returned, then you will not be eligible to receive anything else until the completion of your academic and financial aid years.  (Normally simultaneous, but not if you dont' receive the required credits to move up a grade level)

The financial aid year is from July1 - June 30.  Before you can receive an additional year of funding, you must complete the required credits.  If you are starting out as a sophomore (24 credits), then simply you have used your entire eligible amount of aid, and need to reapply for 2008-2009 funding after June 30th.  Hope this helps!  

(Best answer)