Goodness no: http://scholarships.ua.edu/faq/ (scroll down and read how to maintain the scholarship).
“Students must maintain a University of Alabama GPA of 3.0 to maintain scholarships awarded by Undergraduate Admissions. Students are not required to be enrolled full-time to maintain scholarships.”
There has been much written every year that I’ve been here about students who are in jeopardy of losing their scholarship and there is much information and advice about how you will be put on ‘probation’ and how you can work to get off of it and maintain your scholarship. Use the search function on this forum to find out more. UA is very generous. Please don’t get yourself in this situation, however.