Drop out
Either used as a verb meaning quitting school - this could be college or regular school - before the end of the year, or adjective describing someone who did.
Example:
As a verb: "I want to drop out of school."
As an adjective (describing a noun, in this case a person): "I'm a high school drop out."
As a verb: "I want to drop out of school."
As an adjective (describing a noun, in this case a person): "I'm a high school drop out."