The paper tests longitudinally the hypothesis that educational subcultures in terms of which students interpret their role and their educational setting affect the probability of dropping out of higher education. A logistic regression model was performed to predict drop out at the beginning of the second academic year for the 823 freshmen of a three-year bachelor degree in psychology at an Italian university. The model uses both measures of students' educational subculture and incoming levels of knowledge and skills. The probability of dropping out was used as dependent variable. Results show that the probability of dropping out is significantly associated with students' educational subculture--but not with their incoming level of knowledge and skills. Our results suggest the need to recognize the meaning as a legitimate variable of research and of intervention in the field of educational success.