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Based on the developmental theories of life course and emerging adulthood, the current study examines a central question about the diversity of trajectories among young adults who drop out of college. The National Longitudinal Study of Adolescent to Adult Health (Add Health) provides prospective data on a nationally representative sample of US young adults. Our subsamples include young adults who dropped out of college (N = 1,530) and those who obtained a bachelor’s degree (N = 1,977). We examined five dimensions of well-being: socio-economic success indicators, happiness/satisfaction, mastery, stress, and depression. Using latent class analysis, five classes of young adults who dropped out emerged that reflected variability in the patterns of well-being. Differences in socio-economic and mental health dimensions are elaborated in the study. The findings from this study provide valuable basis for challenging stereotypes about the college student dropout population. [ABSTRACT FROM AUTHOR]