What does it mean when the Financial Aid Office has decreased my loan(s) due to grade level?

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What does it mean when the Financial Aid Office has decreased my loan(s) due to grade level?

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The Financial Aid Office packages loan amounts/limits based on the grade level you have indicated on your FAFSA (Freshman, Sophomore, Junior & Senior). If it is determined that your grade level differs from what you have reported, the Financial Aid Office must revise your loans accordingly. Students who have a Junior/Senior standing but are admitted into an AA/AAS degree program can only get loans at a Sophomore level.

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