You will automatically fail the course (Meaning it'll show up as a 0 on your transcript).
You should also notify OSAP when you drop/add courses (or have any financial changes), which can be done through SFAS in Gilmour Hall.
Yes, you can take an extra course in second term, although it can be overwhelming for some student to take 6 courses at once. You also have the option of taking summer school.
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Jeremy Han
McMaster Alumni - Honours Molecular Biology and Genetics
Pennsylvania College of Optometry at Salus University Third Year - Doctor of Optometry
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