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As far as I know, withdrawing before a particular date in a semester results in a W grade, which does not affect your GPA. However, if you decide to withdraw from the course after that date, it's pretty much considered that you just stopped going and you fail the course as far as GPA/credits are concerned.
The thing about the W grade is, though it does not affect your grade, by the time you get to the point in your semester where you know you want to drop the class before it is too late, it is likely you've already passed the date where they will refund your money for the course. Still, better than wasting your time with a course for the semester and then ending up with an F on your record that you still had to pay for.
/shrug
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There are more things in heaven and earth, Horatio,
Than are dreamt of in your philosophy.
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