Important question concerning the future of my financial aid status....Help?

I am currently taking three classes, and my GPA is 2.67 (or 2.7). I am planning to withdraw from one of the classes at the deadline (today), but it is too late to drop the other two (online courses). Obviously, failing these classes will drop my GPA below 2.0, but if I withdraw and attempt the other two classes and still end up with an F, how does this affect my financial aid for the Fall semester? Will I be denied financial aid assistance, or will I be placed on probation and given another chance to improve on those grades and my GPA?

It is OK to add/explain your personal experience, as long as it relates to this question. I believe it may help and provide me with an option for resolving this.
 
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