I don't really know anything about Penn State specifically, but in all likelihood you'd be classified as a junior.
This can work to your advantage. At some schools, juniors and seniors are "free" (not counted in quota), or there is a separate quota for juniors and seniors, so that they are more likely to get bids rather than being passed over in favor of people who will be there for 4 full years.
You will want to make it clear that you're going to be around for 3 more years, not 2, and that it's for a good reason (a major with lots of required courses, a double major, change of major, etc.) - not just that you flunked all your classes freshman year and need an extra year to catch up.
Good luck!
