Depends on if the groups on your campus really stick to the grade requirements. I know that with chapters I've worked with, you don't have the grades, no matter how close, you're more than likely to get cut. When you're working with release figures, and it comes time to cut your list, it's the first reason for someone to go.
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Be a leader; Be Yourself; Be DPhiE - Esse Quam Videri
To my understanding, a "grade risk" is a girl whose GPA hovers right at or above the minimum (and thus could fall at any time). I believe that minimums are pretty much set in stone.
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Ain't nothin' finer in the land than a sweet, adorable Delta Gam!