College Advice.

[M2d]

as others have said, get your crap together. probably one of my biggest mistakes in school was screwing around too much when I had newfound freedom (that and finding a trout stream 20 minutes from school and a bass stream 2 minutes from school).
get the GPA if doing so will keep you qualified for the scholarship. if not, and it looks like you're losing it regardless, stay in school and take out the loans. the 50K you'll owe at the end looks huge now, but it isn't much in the real world, and easily manageable once you have the degree and are working. With the degree, you should advance pretty quickly, so the monthly cost will get smaller and smaller (relatively). without the degree, you may find yourself stuck in one position for a long time without meaningful pay increases.