I had one year left until graduation, provided that I didn’t fail any classes, and school was getting to me. I remember the day clearly. I had an appointment with one of my professors, ostensibly to chat about graduate school. In the days between scheduling some face time and actually meeting with my professor, something had snapped.

The issue isn’t an uncommon one: I was upset with the world. Why did I need a piece of paper to convince people of my aptitude? Why couldn’t I get my foot in the door without a degree? Where was the justice? As I went through the iterations, axioms, and oversimplifications present in my complainings, my professor waited patiently. When I finished, he reassured me. My degree would not be worthless, nor would be the time I spent earning it. This is the world we live in, and if you want to play, more often than not, you need a college degree.

A year later as I walked across the stage, another one of my professors mispronounced my name and handed me a symbolic diploma (the real one was in the mail). In the time between the aforementioned meeting about grad school that had turned into a pep talk about the importance of continuing to show up to class, a new professor had joined the ranks of the English department. I only had the opportunity to take two classes from this new professor, but he became a friend and mentor to me. In that last year, I learned more than in any of the ones preceding. It’s safe to say that my mentor saved me from being one of the millions of college students who don’t finish their bachelor’s degrees in under six years, of whom a great deal never cross the graduation stage at all.

Why Do Students Dropout of College?

A recent study from Public Agenda (underwritten by the Bill and Melinda Gates Foundation) found some interesting things about college dropouts. Of the 600 surveyed, only two in five finished their four-year degrees in fewer than six years, with only one in five who attempted two-year degrees finishing in fewer than three. The study found that, unfortunately and a little ironically, most of those who dropped out had financial trouble. I say “ironically” because getting a postsecondary education is supposed to be about ending personal financial hardship, not perpetuating it. The trouble is, of course, that while it’s been shown that higher education is quite an income booster in most cases, it’s a long-term one. In the short term, college students are still–and stereotypically–poor.

Of the dropouts, the study found that seven in ten had no scholarships or loans to help them out. Personally, I worked while earning my degree, but that money wouldn’t have even come close to covering all of my costs without the help of scholarships and the occasional cash-filled care package from my parents. More than half of the dropouts came from families with a household income of $35,000 or less, though, making parental funding difficult, if not impossible. No financial aid and no parental support would have meant that my already busy schedule would have been debilitatingly hectic.

It’s no surprise that the study found that being unable to strike a balance between work and school was a main cause of dropping out. There’s an answer, though. Online education offers students the opportunity to get work done on a flexible schedule. The truth is, nine-to-five jobs nearly always pay better than other jobs, and they almost always conflict with a regular class schedule. If you’re on the cusp of dropping out because of money issues, look into transferring to an online college. Another tip: apply for scholarships constantly. It’s tedious, but it pays off–not only that, but scholarships pay off without having to be paid off, making them a much better option than loans.

Hold fast, and consider your options before you bail out of college. You’ll thank yourself when you’ve got that diploma in hand.