What does it mean to get a W on a college transcript ? will it affect me ?

The "W" stands for "withdraw". It just shows you did not complete the class. It does not affect your GPA, but it may affect your financial aid status. I can't recall the exact limits for FAFSA but if you keep dropping multiple classes with a "W" over the span of a couple semesters you may eventually lose your aid. They'll put you on academic probation. You should go to the FAFSA site and read up on the guidelines.Or talk to a student adviser at your institution who knows about financial aid. But, it's better in a way because you don't get the failing grade that does affect your GPA which can also affect your financial aid's "Good standing" status (and your enrollment status). I highly doubt one "W" on your transcript will seriously affect your enrollment status, but...if you have multiple "W's" on your transcript, it may affect your enrollment abilities, depending on your college/university's policies...again, talk to a student adviser about it.