Why is it saying Direct Loan exceeding limit?

This can be a result of several things such as EFC, grade level, prorated Academic Year, etc. First go to Mastersheet (MS) and select the view ALL items, Click Generate. Under the Financial Aid Need and Awards Made section, check the Loan Limits, Loan length, COA. Under Direct Loan Origination section, check the Grade Level. GO to Data Exchange Messages and Data Transmissions to view errors descriptions.