It is possible to get back your eligibility for financial aid.
My grades slipped and the financial aid office told me I am not able to get federal student aid, why?
In order to get financial aid you need to have satisfactory academic progession to keep your federal student aid and it is best to talk to your school and see if you can appeal the decision that made you unable to continue getting federal student aid.
very good, I would like to regain eligibility for federal aid, what are the consequences of an unsatisfactory academic process?