Why can't I lose any more weight?

Here's a little background, thought I'm not sure how much it will help:

For most of my life, I've been overweight. It didn't start getting really bad until adolescence when I started to become obese (5ft 9in, around 300lbs) and I stayed that way through high school. When I got to college, I finally turned started turning things around and lost about 100lbs over the course of two years. At the beginning of this last summer, I was somewhere between 190 and 200lbs. Over the course of the summer, I worked out incredibly hard (two hours at the gym Monday through Friday with 45 mins on weights and 1 1/2 hour cardio every day). I watched what I ate (probably between 1500 and 2500 calories per day) and eventually got myself down to a solid 175-180.

Here's the problem: it's been more than six months since then and I'm still the same weight, maybe even a little bit more. Obviously I don't exercise as much now that I'm back in school, but I've cut my calories down significantly (1200 to 1500 per day, since it's recommended that you not eat less than 1200 calories per day) and I do hard cardio around 3 times a week and moderate weight training off and on. Over the holidays, I put on a lot of weight, probably ten pounds, but even that I was able to shed in only a few weeks. Now I'm back to my 180 self though, and I can't seem to get that number to drop any lower.

This number wouldn't bother me so much except that I seem to carry it all on my waist and thighs, meaning I still look overweight (ie, I have kind of a male muffin top thing going). It has occurred to me that it's just extra, stretched skin left over from my obese days, but it feels thicker than that...it feels like fat.

Does anyone know what is going on? Am I doing something wrong? Am I not doing something I should be? I'm willing to do whatever it takes to get down to the 160s, I just don't know what to do!

Thanks for your help!
Why can't I lose any more weight?
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