More than likely you wont be able to get your grant back until a complete year has passed of good (3.0+) grades but as far as loans go that should not be a problem. Since loans are based on credit not merit from grades as long as you or whoever your cosigner are for your private loans qualify the credit check then you should be able to take out loans for the amount you need to pay for your schooling. If you are not able to get federal loans in the amount that you need to cover your schooling then private loans will cover the remainder or whole amount that you need to pay for school (ex: sallie mae & all those other private loan companies).

i think you can appeal decision to take away the grants…if they are federal pell grants, they require a 2.0 minimum gpa to continue receiving the grants…I think you would file an appeal to the financial aid office at your university/college and they give you another semester to pull up your grades. If you get off academic probation in one semester, then that should put you over the 2.0 gpa required.

Consider getting a job to pay for school.

Also, spend more time studying, less time on the internet.