How (or do) 4-year institutions calculate GPA over courses not yet completed?

When calculating your overall collegiate GPA, are they only calculating it on the basis of courses you’ve completed, or do they project out over planned courses? As I’m typing this out it sounds like a dumb question, I’m sure they don’t do a risky sort of projection on the basis of past results.

It is calculated on the basis of courses completed.

They do not include grades for in-progress courses.

However, admission offers will be contingent on completing those in-progress courses with high enough grades and/or GPA. “High enough” may be defined differently by each college. So avoid slacking off after submitting college applications.