A student receiving federal financial aid has failed to meet their institution's Satisfactory Academic Progress (SAP) requirements for two consecutive semesters. What is the most immediate consequence for the student's financial aid eligibility?

✓ Correct Answer: Option C

Failing SAP typically results in a loss of federal financial aid eligibility. However, students usually have the option to appeal this decision, often by demonstrating mitigating circumstances and outlining a plan for academic success.