A different perspective from a completely different program.
Background, I went through the same, got my ME degree in 2003. Been in the workforce since then. P.Eng. now.
I breezed through highschool (but enjoyed it somewhat), scored a 5 on the AP exam, wrote a perfect provincial math/calculus 12 exam. 1st year calculus was insulting to me, (I really should have used the AP credit) but I ended up with a couple of A+'s to pad the GPA. (I'd need that later!) Either you know it or you don't, and I knew it inside and out. I don't know the specifics of your class, but if you know the subject matter that well it shouldn't be a problem. If you don't, learn it. It's ok to prioritize it in front of other classes, that's what the real world is all about and that's likely what you are really being tested on. Time management and prioritization.
Word of advice, find an extra curricular club to join and get into it. Yes it's more work (I was doing about 100 hours a week of school related work), but you get a peer group trying to do the exact same thing and you learn a lot from that peer group. How to prioritize, how to think critically on the work you are doing, how to be efficient. For example, we had weekly mechanisms assignments that would take upwards of 20 hours a week, and they were worth 1% of our final grade. Is it really worth putting in 20 hours for that assignment before getting the other stuff (that is worth more) completed? I thought I had to do it all, you'll learn a valuable lesson there.
FSAE was my drug of choice, and helped me apply a lot of things I'd learned in school. But one thing I didn't expect, it FORCED me to complete my degree. I wouldn't have completed it without that project. I was too damn interested in building those cars, and not in my school work. But one fed the other, and the group of people in the FSAE program was tight-knit, and we were in a lot of classes together. They helped me learn how to prioritize rather than doing it all.
Fast forward to my working career. Not going to tell you what I make. However, out of school I started at 41K. I worked hard, and was at 51K in 2 years. Switched jobs, and have made substantial improvements to my situation since then. Now I'm hiring engineers as part of MY team.
Tony touched on it, if you have a head for business... they love to make engineers into managers. If you think you want to do technical all your life, that is an option as well. I believe an engineering degree is the most versatile degree you can have. You learn how to prioritize and how to deal with stress. That's a great leap ahead in the work place.
If you aren't committed to 80+ hours a week, you should find a way to make it work without forcing the issue though. Getting kicked out can really throw a wrench into things.
Hate to tell you this, but you've put it on the internet and its fair game. Take it in stride.