I’ll be finishing my first year with a 2.5/2.7 GPA. I’ve also decided to change majors completely because I’ve realized it’s not what I want to do. This year i’ve had strep 3 times and for me the switch to college was significant. Im changing from pre-med to business administration. So i was wondering how much that low GPA in the beginning will affect my ability to be accepted into an MBA program and to get a job after school. Thanks 
You have 3 more years to improve your grades. The MBA programs will look positively at the upward grade trend and the change in your major. Given that if your GPA is good in the last 3 years, a low freshman GPA should not hurt you. The undergraduate GPA (especially with an upward trend), GMAT test score and work experience will determine which MBA program you get into.
Pre-med trashes a lot of people’s GPAs, and in my experience, admissions committees tend to be relatively sympathetic to students who started in one major (or pre-med), didn’t do well, but got significantly better after they switched to their true love. You can write a compelling narrative about this in your statement of purpose in a few years, too.
Im in the same position as the OP.
If I bring my GPA up after the first semester of sophomore year, will I still not be considered for competitive internships? Most competitive internships require a minimum GPA of 3.0 but for them to actually be competitive, applicants are supposed to have at least a 3.5 GPA. I know my GPA has the potential to increase but it will still be lower than the most competitive applicants for business summer internships at the time that I apply to the summer internships.