The process of withdrawal from two- and four-year institutions of higher education was studied. Data were drawn from the base year and the first and second follow-ups of the National Longitudinal Study of the High School Class of 1972. Results indicated that: (1) women students were more likely to withdraw only in two-year colleges; (2) white students were more likely than black students to withdraw when other variables were controlled; (3) high school program, college grades, and educational aspiration account for most variance of withdrawal behavior; and (4) financial aid did not have a significant effect on college persistence. The data showed that withdrawal was more a motivational than a socioeconomic problem. (Author/LBH)