After checking my financial aid statement online today, I saw the following message.
Based on the number of hours you have earned, your Federal Stafford Loan amount reflects the maximum annual loan limit set by the federal government for students classified at your grade level. You may wish to check with our office when you have earned more hours (perhaps at the end of the next term, or when additional transfer hours have been evaluated by the registrar) to find out if you have advanced a grade level and might be eligible for additional Federal Stafford Loan funds.
I only earned 4 credit hours for an entire school year. I also maxed out on the amount of Stafford loan that I could apply for because of the financial situation of my parents. Based on the statement above, it appears as though I cannot apply for any Stafford Loans this year because of the number of hours that I received because I am technically still considered a freshman. The cost to attend Wake Forest University for a semester is $26,041. Although my institutional aid has not been factored in, I do not believe that I can cover the cost of my semester at Wake Forest without the help of a Stafford Loan. Is there any type of exception for this policy for students with extenuating circumstances such as mine?