Financial aid audit?

Paying for College
1

Recently a hold was placed on my student account that prevented me from registering from classes. I received an email saying I owed the school money even though I was awarded financial aid to cover my expenses and the school owed me money back initially.

When I looked under my financial aid overview it says the award is still there/accepted but under my account summary the loans have disappeared, reflecting a balance. My school’s financial aid is telling me I have ‘reached my loan limit’ and my account needs to be audited? What does this mean? Will they expect me to pay the 4,000 out of pocket now even though at the beginning of the semester I accepted these loans?

2

Has your loan limit been exceeded? If so, you were not entitled to those loans.

3

I’m not sure i know what you mean? I wasn’t aware there are limits on loans provided

4

There is a limit on the amount of Direct Loan money you can borrow. Have you exceeded that amount?

5

If you are a dependent student, you can borrow $31,000 as a maximum. If you are an independent student, you can borrow $57,500 total during your time in school.