The authors present a comprehensive study to identify factors that affect the retention rate of first-time freshman business students in a large four-year public university. Factors include background academic and demographic variables, current performance indicators, and course-taking patterns. Based on a logistic regression model and comparison between nonretained students and students who graduate on time, the authors determined that sex, ethnicity, socioeconomic status, grade point average, academic standing, and performance in foundational and remedial courses were significant predictors of nonretention. Underrepresented students were found to struggle more in college and be at a significantly higher risk for nonretention than were others with socioeconomic or financial reasons playing a big role along with poor academic performance.