This study examines the relationship between various demographic and situational factors and working students’ decisions to change their study programmes and abandon higher education. It utilises a sample of 1902 working students derived from the Eurostudent VII survey and employs cross-tabulation and chi-square tests. The findings reveal statistically significant associations between several factors and students’ educational decisions. Males are more likely to consider abandoning higher education than females. Younger students, particularly those up to 21 years old, are more inclined to consider changing their study programmes. Financial difficulties significantly influence students’ considerations of both changing study programmes and abandoning higher education. Students in the arts, humanities, and ICT are more likely to consider abandoning their studies. Conversely, age does not significantly affect the likelihood of abandoning higher education. Parental educational attainment does not significantly influence decisions to change or abandon study programmes, whereas living situations, such as living independently and not living with parents, significantly affect changing the study programme. Qualification level affects the likelihood of changing study programmes, with bachelor’s students more likely to consider changes than masters and long-term national degree students, but it does not significantly affect the likelihood of abandoning higher education. Education–job mismatch significantly affects both changing study programmes and abandoning higher education, while the duration of working hours only influences the decision to alter study programmes. By revealing these findings, this research extends the student retention discourse as well as highlights how cultural, economic, familial, and workplace capital influence working students’ educational decisions.