Financial aid consequences
Be aware that dropping one class could mean losing all or part of your financial aid eligibility. Your aid awards are often based on your credit load, so reducing your enrollment, even by just one class, could change the amount of aid you are qualified to receive from certain programs. For example, if you are an undergraduate, you must maintain a minimum current registration of 6 credits (half-time status) to qualify for federal loans. Some federal grant programs and other loans require full-time status. See Enrollment criteria and Satisfactory academic progress for financial aid recipients for more details.
Regardless of the reasons for the registration change, you may be billed for any aid disbursed to you that you have not "earned." You could be required to repay credit balance checks and will be held responsible for any charges on your account no longer covered by aid. Details are available in the One Stop Finances section on credit balances and refunds.
Consult with both a One Stop counselor and your academic adviser to ensure that canceling a class is the best decision for you. In extreme cases, you may be advised to take a grade of F, rather than withdrawing from a class. Even though an F damages your grade point average (GPA), that choice may be a better option if losing your financial aid would create financial hardship for you.