I go to Babson College and run into similar situations to this everyday here. For those running something techie (which I assume considering we're on HN), I don't understand why people cannot balance school and work. Not to toot my own horn but I've been running a web design firm (pulling mid 5 figures this quarter for me), gotten a 3.3 GPA and built out a new product http://upout.com.

You don't need to drop out to do well. You just need to sacrifice some of your social life and television (and Facebook).