I recently attempted to post a similar thread, however- mine concerned what happens if you have excess credits, but less than the 150% allowed rule, and yet want to transfer to a new school and continue? Can you start over with the credit limit, etc?
I have enough credits for a degree, yet not enough classes for the degree I sought, since the classes required for the degree were never available (so I took classes that WERE available, so I'd remain fulltime and receive FA).
This means many of the credits I did receive don't count toward my previous planned degree.
I have queried a potential new school, because I am moving, and I was told that all I have to do is complete a form explaining that the classes I wanted were not available, and that despite my total number of credits, they are not applicable to a degree, and therefore I am starting on a new degree plan. The new school told me that happens 'every day', and that that would allow me to continue to receive FA up the max limits allowed (such as the total allowable Stafford loan amounts and lifetime Pell grant limit).
If this can happen upon transfer to a new school, I'd wonder that it can't also happen at your orginal school?