Update:

I spoke with an academic advisor today and I was told that if I get all passing grades this Fall, I can apply for something called academic reprieve next spring which will allow me to have all of the classes that I took that semester wiped off my record which includes that F. They said that I can do it since their only requirements are for it to have been at least 3 years since the semester you want wiped and that you have made at least a C in every class that you took since then.