Student dropout can be conceptualized as a decision-making process, consisting of different phases. Based on previous literature on student dropout, decision-making, and action-phases, we proposed that the process of developing dropout intentions includes the following phases: "non-fit perception," "thoughts of quitting/changing," "deliberation," "information search," and a "final decision." In the present cross-sectional study, we empirically investigated if the assumed phases can be distinguished from each other, if the phases follow the presumed order, and whether each phase is associated with certain characteristics. Furthermore, we considered a strict separation between quitting studies completely and changing a major. For this purpose, we analyzed data of N = 1005 students (average age of 23.0 years; 53% female; 47% male) from a German University. By using confirmatory factor analyses, we found the supposed factor structure for the different phases concerning both kinds of dropout, quitting studies, and changing majors. In each process, structural equation modelling indicated positive relations between adjoining phases. The factor values correlated to a substantial amount with an assortment of variables associated with student dropout. On a theoretical level, the conception of different phases of student dropout helps to get a better understanding of regulatory processes in the context of student dropout.