Do I have grounds to sue my school's financial aid office?

The last time I attended my college was in 2006 and I was placed on academic probation for not maintaining SAP. I enrolled in classes again in November of 2010 and received correspondence via US MAIL fro my school that I was still on probation and it was necessary for me to improve in order to continue to receive my aid. I completed the Winter session with an A and started Spring at the end of January and so far are pulling 4 A's and 2 B's. I have an EFC of 0 and have a large unmet need in order for me to complete school. I met with a counselor and have been recommended to start applying for universities this fall to attend Fall 2012. This past Friday, I requested a loan from the Financial Aid department but was told that I would not receive the loan and that I would be suspended because of my failure to progress, stemming from 2006/2007 school year. I was told that I would not receive my Pell grant and that I would owe whatever funds were already dispersed to me. I was also told that I could not appeal because the deadline was April 15th although they suspended after the deadline date. The dispersement is scheduled in 5 days and seeing as how I was using the money not only for room and board costs but also to attend the summer semester, this suspension and my not receiving my aid damages me completely. My rent, my transportation, my attending the next semester is dependent on my receiving my aid and now I will not receive it. Do I have right to sue? I had no notification of my being suspended - and I am told that I can do nothing, but again, this will damage me and my career extensively. HELP!