No one will read this because I'm posting so late, but I'll describe my experience:

I was a stats major, emphasis actuarial science. On paper, I was set to go work for some insurance company and make bank.

Except...I couldn't make myself care about it. Done purely for money, that stuff is pretty boring.

No, I didn't drop out. The university did that for me as my grades plummeted.

I'd learned a bit of java, so I applied for a job out of the student paper and ended up working on an application for...wait for it...insurance agents. Exactly what I couldn't make myself care about in school. In Visual Basic.

Having read enough of pg's essays to somehow acquire the impression that I was a Great Hacker destined for startup greatness because I had played around with CL, I quit the insurance software gig to build....video conferencing software! I even found a customer willing to pay me for it. I was clueless and so was he, so we ended up negotiating a fixed-price contract. Cue the tragic cycle of I-didn't-realize-it-would-take-this-long-and-I'm-not-getting-paid enough on the developer's part, and it became a nightmare project that dragged on four months longer than it should have.

Cue some more inexperienced-at-software-and-inexperienced-at-contracting horror stories, and I was kind of sick of being on my own. I found the one cool company in my area and bravado'd my way into an interview. They were everything awesome the insurance company hadn't been: smart people. Great conditions. Clojure and Ruby as main languages. Tufte's Visual Display of Quantitative Information on the coffee table in reception. An engineer cofounder (vs. an insurance agent founder).

And...I wasn't qualified. I'd plugged some libraries together for the videoconferencing thing, and the Rails stuff I'd done on contract was pretty basic. Any my stats knowledge was poor. I'd dropped out!

So I decided to go back to school. Part of the reason I failed so badly in school is because I had a really hard time getting motivated when I could see how sucky most of higher-education is for actual education---many things are quietly optimized toward extracting money from the student's parents, or measuring things for future employers, or compensating for a model with many students and few professors. This is all true, but I can get a loan to attend school, while I can't get a loan to grab a bunch of textbooks and start cranking.

So if someone were thinking of dropping out, I'd say---do it. Absolutely do it. If you're sick of school and can't get motivated, no inspirational talk will cure that, and you'll stumble through half-caring, graduating with either a useless degree (because you didn't learn anything) or failing out like I did.

The only thing that will cure you of that is experience outside of school. That will be what tells you how off-base (or on!) you are. Since I left school my opinions on some portions of it being B.S. have only strengthened. But I have also gained an appreciation for certain parts that I took for granted. So if you leave, be cold-blooded about it. You may hate the system (it deserves it), but it might be useful to you later, so don't burn that bridge if you can help it.