I'm 24 and reconsidering my major and school. I was in a decent major at a University of California, but didn't want to do computer science, so I told my folks I would be wasting their cash becoming a likely 5 year-7 year student and needed time to figure out exactly what I wanted out of life. Also, reminding them that with 2 years under your belt your in a good spot to power through the second half when you're focused on a real goal, not just settling on something that doesn't sound half bad.
Note of caution, though: You can squander your time off. I thought I'd drop, get a job, travel, gain new friends and hobbies, etc., but instead just worked, paid rent, worked, paid rent, worked, paid rent, paycheck to paycheck with barely enough money to buy a 6pk of beer a week or a 20-40 bag of pot. I don't regret my choice, but it doesn't go like a fairy tale 99/100.
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