I am currently getting ready to start my 3rd year of college, but technically I am still at sophomore status based on my credits, 59 which is one short of junior status. I took 2 summer classes at my local college to transfer there so I really have 65 but I cannot transfer them until later this month. Anyways i got my financial aid package in June, and it said I was eligible for a loan amount of 5500 (which is what they give to Juniors) but then today in the mail I get a revised one that says I am now eligible for the amount of 4500 (which is what they give to sophomores). I just want to know does it go by the year you are in college or you actual status based on your credits? The way I see it you are only offered 4 years of undergraduate financial aid, and since I am going into my 3rd year I should be able to get the amount they would give to Juniors… Anyone??