No, I'm not talking about your Facebook  status ("Barbara Raus is writing a blog post"). I'm talking about your school status. Are you attending full-time, half-time, or less than half-time?

Your ability to qualify for certain types of financial aid or even your health insurance can depend on your attendance status. So you always want to be aware of how many credits you are taking.

This is especially important to consider during the add/drop period at your school, when you can choose to drop a class you are no longer interested in without being financially liable for it. This can get tricky. In some situations if you drop a class, it can change your enrollment status.

Say you're a full-time student with 12 credits. If you drop a three-credit class, you're suddenly a half-time student. For some students that might mean they're ineligible to be included on their parent's insurance.

Or if you're taking six credits and drop a class, you're below half-time status and no longer qualify for federal aid !

So watch your status as you pick and choose which classes to take or drop. If you don't, you could be facing some large financial repercussions.