I dropped out of school last semester, so I think I can add some (unique) perspective. Maybe I will flesh these thoughts out into a blog post later.<p>When considering dropping out of college, you're the one who is ultimately responsible for that decision, you're the one who will live with the consequences, and you're the one who has the best information for making that decision. It's all on you. You have to ask yourself if you <i>really</i> believe that you can live with the consequences and, if so, take the plunge.<p>Now, I've only been a drop out for 3 months, so it's impossible for me to comment on the long term effects, but -- if there's one thing you need to realize before dropping out -- <i>being a drop out is hard.</i><p>For one thing, everyone thinks that kids between the ages of 18 and 22 should be attending college, and they'll be happy to tell you so. Lots of people attended college and, since it worked for them, they will believe that the system can work for you. Further, these people have a vested interest in telling you how important college is and what a worthwhile experience it is because, frankly, they are trying to justify spending however many years attending college and paying off their student loans<p>Basically, don't expect a whole lot of support.<p>In addition, being a drop out in today's climate is a little bit more difficult than it was in the past. Computer Science is now an established discipline and schools actually teach it, so being self-taught is less of a necessity and more of an oddity. Further, while the common wisdom seems to be that the current economic climate is not so bad for programmers, it's certainly harder to get a job now than it was during the dot-com boom.<p>The final, and hardest part of being a drop out, is that it's incredibly lonely and incredibly difficult to stay motivated when you're on your own. I imagine that it's similar to being a solo founder. There are days when it's hard to find the strength to get out of bed, when you'll be filled with self-doubt, when you'll wonder if dropping out was the right decision. Hacking on your own for four years and building a portfolio, instead of attending school, might sound great on paper, but without your peers to support and motivate you, it's very hard.