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NV Alpha has had a problem with grades and we did two things:
1. Cut the members that didn't make grades
2. Implemented mandatory study hours
Problem with that approach is: does your chapter have the numbers to make the cuts necessary and still keep nationals off your back? Get in touch with your RD, you'd be surprised at how well SigEp nationals will work with a chapter that is struggling and honestly wants to change.
I would suggest getting the guys together that care and writing up a plan to jolt your chapter back to life. Include a list of things such as mandatory study hours, etc. that address the problems nationals pulled your charter for recently. Send this to nationals and re-apply for the charter. Oh, and don't forget to kiss ass.
In the future, bid more intelligently. If the guy doesn't have grades, he doesn't get a bid. Make getting a bid something special, not something any guy who wants one can just get.
Quality over quantity, end of story.
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Sigma Phi Epsilon "Building Balanced Leaders for the World's Communities"
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