You are on probation if your overall GPA is below 2.0 or your completion of credits is less than 67%.  During the probation semester, you must complete AT LEAST 80% of your attempted credits and earn a term GPA of 2.3 or higher.

As long as you meet these requirements, you will remain on probation until you have achieved the Satisfactory Progress requirements.  For some students, this may take several semesters. 

Even though you are on probation, you most likely will be able to access financial aid (if you qualify) AND financial aid eligibility will continue as long as you maintain or exceed the probation requirements.