Nooooo! Don't do it just it....
Although I realize anxiety can feel overwhelming and it many cases it actually is, with the right tools and help you can get through this semester. Not to mention you have a wonderful opportunity (Scholarship) that I believe is worth keeping.
So here are a list of things, from personal experience, I would suggest you look into to help ease some of your anxiety this semester and help you stay on top of your game:
I know it sounds cliche however a counselor may help you uncover some of the roots of your anxiety (if of course you haven't already done so) then, she will help guide you to finding individual ways of reducing your anxiety. Something that is unique to you and your particular anxiety.
2. Yoga or Exercise
Time and time again it has been proven that physical activity significantly lowers stress levels and produces a relaxed state of mind. Not to mention, all of the other amazing health benefits you'll reap from exercise.If you're short on time, a short 15 minute cardio first thing in the morning, a few days a week can work wonders for your body and mind.
Take an honest good look at your whole life right now. Perhaps school is indeed over whelming at this time. Are there other areas of your life that you are able to cut back on that way you can have more down time for your-self? ?If not, are you keeping up with the other areas of your life that make you feel good and happy?Balance is key here. Too much of any-thing, healthy or not can be bad for you. Although it's probably too late to say that for the semester, it may not be too late to look at other areas of your life that adjusting a tad may help to ease some school anxiety right now.
How wonderful it is to have a scholarship you didn't have to pay absolutely nothing for. It's FREE. Heck, this whole semester is FREE. Now that is amazing. That means thousands of dollars less you'll be paying back in loans in the future which equals more money in your pocket. Some-thing I am sure your future self will be thank full for.
Watch what you eat. Some foods can provoke if not worsen the anxiety you already feel. Sugary foods are among the most dangerous. Try to stick to healthy, low carb, sugar free, high veggie, and balanced mean plan.
If all else fails, then perhaps the best thing to do for your self is to drop the class. I'd strongly advice you to think carefully about it.
Good luck and I hope it works out for you!