A new Trellis Strategies survey (PDF File) of 3,182 former students who left college without a credential finds that financial pressure and life circumstances (not academic struggles) are the top reasons they walked away.
This matters because students who leave college without a credential are usually the ones that face the most financial difficulty after leaving school. When you drop out of college, you still owe any you student loan debt you've already taken and may face repayment of other aid.
Why it matters: Roughly 43.1 million Americans fall into the "Some College, No Credential" (SCNC) category, including 37.6 million working-age adults. At least 43 states have set postsecondary attainment goals that depend heavily on bringing these learners back.
By the numbers: Among the survey respondents who cited a reason for leaving:
- 35% pointed to personal finances
- 32% cited family or personal responsibilities
- 27% blamed employment pressures
- 25% said cost of attendance or tuition
- 24% cited health reasons
- 19% pointed to academics
The survey reached former students at 58 institutions (25 four-year, 33 two-year) across 13 states.
Sector split: Stop-outs from four-year schools were far more likely to cite cost of attendance (35%) than those from community colleges (20%). Two-year students were more likely to blame work conflicts (29% vs. 22% at four-year schools).
Modern learner reality: The SCNC population skews nontraditional. 72% of respondents worked while enrolled, and nearly half put in 40 or more hours per week. 36% were first-generation college students, and 25% were raising children.
Between the lines: Most students still believe in the value of a college degree. 73% said finishing would improve their career earnings, 70% said a degree would improve quality of life, and 64% called college a good investment. Satisfaction with academics and registration processes was high (91% were satisfied with registration) but cost, financial aid services, and academic advising ranked lowest.
The exit is silent: 71% of respondents never spoke with a faculty or staff member about their decision to leave. That number climbs to 75% at two-year schools. Institutions lose students before they know there's a problem to solve.
Return plans are mixed:
- 28% plan to re-enroll at their original school
- 35% plan to enroll elsewhere
- 37% have no concrete plans to return
Four-year stop-outs are especially unlikely to come back to the same institution (19%), compared to 32% of community college stop-outs. When asked what support they'd need, students most often named better financial aid information, clearer course and major options, and real academic advising.
How this connects: The College Investor has tracked the affordability crunch pushing students out of school, including the rising cost of attendance to massive changes to federal student aid. The Trellis findings line up with National Student Clearinghouse data showing more than 1 million SCNC adults re-enrolled in 2023-2024, a 7% year-over-year gain. But 2.1 million new stop-outs entered the pool in the same period, so the overall SCNC population kept growing.
The bottom line: The money problem that pushes students out doesn't disappear when they think about coming back. Institutions chasing enrollment goals will need to lead with affordability, flexible scheduling, and human advising, not just marketing.
Common Questions
Why do most students leave college before earning a degree?
A Trellis Strategies survey of 3,182 former students found that financial pressure and life circumstances — not academic struggles — are the top reasons students walk away, with about 35% citing personal finances as the primary driver.
How many Americans have some college but no credential, and who are they?
Roughly 43.1 million Americans fall into the "Some College, No Credential" category, including 37.6 million working-age adults — a population that grew over the past year even as more than 1 million stop-outs re-enrolled in 2023-2024.
Do students who stop out still believe college is worth it?
Yes — 73% said finishing would improve their career earnings, 70% said a degree would improve quality of life, and 64% still called college a good investment, suggesting the barrier is affordability and support, not belief in the credential itself.
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Editor: Colin Graves
Robert Farrington is the founder of The College Investor and is widely recognized as one of the nation’s leading voices on student loan debt and saving for college. He holds an MBA from UC San Diego Rady School of Management and has spent over 15 years researching, writing, and advising on student loans, 529 plans, financial aid programs, and saving and investing for young professionals.
Robert has been featured in the The New York Times, The Wall Street Journal, The Washington Post, NBC News, and Forbes, where he has been a regular personal finance contributor for over a decade. His work combines both professional expertise and personal experience – he successfully navigated his own student loan repayment journey and has helped thousands of readers do the same.
He is committed to making the intersection of personal finance and education transparent and accessible. You can learn more about Robert on the About Page or on his personal site RobertFarrington.com.