In general, most universities, particularly the fine academic institutions (not trying to comment on anyone's university), do not transfer the grade, but most do accept the credit hours assuming the course is legitimate. But these hours are generally omitted from the gpa calculation at the new institution, or there will be two calculations - one for courses completed (with a grade of D- or better, i.e., can be calculated) at the new institution and another for all courses attempted. However, as pointed out, there are exceptions to this practice. But, these are the exception to the rule.
If you think you may loose a scholarship due to this, it really isn't practical to think this as you last gpa is what it was when you left your previous institution, and your next gpa will be the end of semester gpa at the new institution. Most registrars will work with you to ensure that you maintain your scholarship or aid by writing you a letter to that effect.
Not trying to confuse the situation any more, but am a prof that has to deal with this on occassion.