This study examines the determinants influencing students' decisions to drop out or stop out (i.e., withdraw temporarily) from colleges in South Korea. Using Korean Education and Employment Panel II survey data (2016-2019), the determinants of students' college discontinuance of 8,485 students were analyzed and categorized as personal, college environmental, and college life factors, and for this purpose, binary logistic regression analysis was employed. Results showed that college academic performance, psychological stability, and college satisfaction influenced dropping out. Also, gender, parental income, college performance, college location, and satisfaction with the college department were found to influence students' decisions to stop out. Particularly noteworthy, this study revealed the significant impact of the Korean cultural belief that success can only be achieved after graduating from one of the top colleges in the Seoul or Gyeonggi Province area. Strategies at the government and college levels are proposed to address the continuing problem of college dropouts and stopouts.