>>14090306For most colleges, yes and no. The new grade is for the course, but your GPA contains the old grade too.
So although retaking the course for a better grade lets you go on to the next course it is a prerequisite to, your GPA suffers from all bad grades.
It also makes your degree cost more, and financial aid won't pay for failed courses or taking a course twice.
This is why it is important to do well or drop early if there are extenuating circumstances that might make you do worse in the course.