My school (Idaho State) just changed their policy so that P2-P4s are considered grad level. Next year P1s will be included so that all 4 years will be considered grad for financial aid purposes. Unfortunately, I'm a P1 this year, which means that I'm stuck in a catch-22 - I'm not eligible for the grad level loans ($18,500), but because I already have a degree, I'm not eligible for grants, either. I was able to take out stafford loans at the undergrad level ($11,500), but I still had to take out a private loan so that I could eat and have a place to live.