<p>The single largest factor in students leaving college nationally is family problems/lack of income. This is true at both state and private colleges. You can pretty much draw a straight line association (with the usual number of outlyers) between family income and college leaving. </p>
<p>Smith is a rather spectacular outlyer. There is no college or university in the country that is even close to its retention rate with similar levels of low-income/Pell Grant students. I think that can be attributed to the extraordinary high level of student support/advising. (Other factors include excellent financial aid - yes, there is a high level of student debt, but that is, in reality, a statistical factor - with very, very few exceptions, schools with low levels of reported student indebtedness are so because PARENTS (with higher incomes) are taking out the loans, second mortgages, etc., rather than the students. At Smith, there are simply more parents without the resources to do so.)</p>
<p>Yes, there are folks who transfer out, though if you look at the data, you quickly discover that more students transfer IN to Smith than transfer out. I think both are good, as students seek the place they feel they really belong.</p>