In order to keep the financial aid that you've been awarded, you must complete your classes. In addition to possibly losing your financial aid eligibility if you are not meeting Satisfactory Academic Progress (SAP) requirements, you could be required repay some of the financial aid you've received if you drop, fail or withdraw from classes (Return to Title IV Funds).
Your SAP status does not follow you from one school to another. However, if you owe a balance at one school, have an outstanding financial aid balance owed to the US Department of Education or fail to complete any classes at multiple schools, you could risk losing financial aid eligibility at all schools.