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@bothwell
I pissed away university twice, and college three times, and consequently have zero qualifications beyond 2 measly A Levels. It has not affected my ability to work and I make decent coin doing something I enjoy regardless of my poor academic record.
Not a day goes by when I don't regret dropping out.
That said, you're only 17 and everybody gets more than one chance. My advice to you would perhaps be to take a year out to get your head together, and then go back to college when you're 18-19 and do something you actually care about instead.