Assuming that your third semester exams are already finished, you still have 5 semesters to go. Even if your GPA is ~5, you can easily take it beyond 7 if you score ~8.2 in each of the remaining semesters. You just need to come out of the negative mindset and get to studying.
All is not lost. All is usually never lost in life, one just needs to find a way out.
I like to blog about various topics ranging from education in IITs to social issues in India and US. All opinions and views presented here are my own and not of my employer.