An undergraduate student could be two different statuses. You are either a full-time student, or a part-time student depending on how many credit hours you take a semester. If you need an explanation about credit hours click here.
Your status can affect your financial aid. If you are taking 12 credit hours and you drop one class, you would be considered a part-time student and your eligibility for financial aid would be affected.
You class standing is determined by the total amount of credit hours you have earned with a passing grade. This can also include transferred credits, AP credits, and CCP credits. The minimum total credits for a bachelor degree is 124 credit hours and to earn a bachelors in four years you need to take 15/16 credit hours for Fall and Spring semester.
Even though freshman might mean a first year, this is not always the case. Being a freshman is determined through credit hours, even if you have been in school 3 years you might still be considered a freshman if you haven't earned past 29 credit hours.
To learn how to see the amount of credit hours you have earned check out the DAR page. This will allow you to check your total credit hours completed and compare with the chart above to see your student status.