Effects of dropping out of college
From my perspective as a former college instructor and more recent mentor to college dropouts, four different sets of effects can follow dropping out of college. Two sets of repercussions are negative and two are positive. There's some choices you can make personally in this and some facets that may offer no choice at all.
Some college students have parents and siblings who are egomaniacs. These ego trippers see dropping out of college as something only "real losers" do. It's a clear cut issue with no middle ground in their minds. These family members will stigmatize dropouts for life as "obvious quitters who did not have what it takes to succeed in life". If this abuse gets internalized into the students' own identities, there's lots of trouble ahead for the former students. They will live inside an imposed story with no apparent escape. It will seem obvious to them that they are lacking traits, endurance and motivation. They will sell themselves short and expect things to work out better for others than themselves. They will be overly receptive to criticism and putdowns while shying away from praise and admiration. They will hang out with others who are in the same boat and pass up opportunities to outgrow the identity they acquired from ego tripping family members. For these students, dropping out of college is very costly in many more ways than financial terms.
Some college students over-estimate their abilities and set their goals too high. College will repeatedly burst their bubble and defeat their ambitions. The students will get the impression they are not trying hard enough. They will attempt to study more for tests, put in more hours on assignments and do whatever it takes to get better grades. Yet no matter what they do to stay in school, everything appears to work against them. Working under so much pressure, they will forget to look after their registration and financial aid details before it's too late. They will space out appointments and lose their keys or cellphone. The countless ways they mess up will result in their flunking out of college. These students will leave with chip on their shoulder. They will continually "go for the gold while complaining about their situation". Their continual sense of persecution will undermine their striving to get better jobs, income, housing and possessions. They will predictably try too hard to make a good impression, to get a promotion or to make a sale. When they flunked out, they learned "you cannot win in life no matter how hard you try". They didn't learn to set realistic goals and be satisfied with meeting them.
Some college students make realistic appraisals of their abilities and motivations. They realize they don't have what it takes to succeed in their chosen college major and career. The process of not finding themselves among all those college offerings and challenges works out well for them. They come to know themselves better by how they differ from those who do fit into college impressively. They become more attuned to their own natural interests and intrinsic motivations. They realize what they can do with feeling, soul or passion. They're happy to start at the bottom and work their way up because the work itself seems so rewarding. They find entry-level positions to get their foot in the door. There they meet others with similar passions, overhear inspiring conversations and see the inner workings of this field that lights their fire. They end up "knowing the business" better than college grads. They make a bigger difference to the field, to colleagues and to other people's lives with their phenomenal motivation.
Some college students realize that college is not working for them. They have a clear sense of what does and does not work for them. When something is not working for them, they fix it, change it or find something else that does work for them. These students are not fixated on making a lot of money or appearing prosperous to others. They are fascinated by how things work and how to make them work better. They realize that honing their sense of what works for them gives them insights into what works for others. They have what it takes to invent new products, formulate new services and launch innovative business models. Working together with others, they will see how to solve some of the problems, smooth out the processes and combine efforts more effectively. They will also spend their money on what works for them, not for show or lavish escapes. They will look back on dropping out of the college as one of the best decisions they ever made. It launched their life long commitment to doing what works for them and others.
From these four sets of effects, you can see it's not the actual "dropping out of college" that sets up the future. There's something going on in the situation at the time that becomes a life long pattern for better or for worse.
