The article presents the results of a sociological survey conducted in 53 colleges in 19 cities of the Volga Federal District among 4th and 5th year college students. The author investigates the influence of psychological factors (e.g. motivation) and external social circumstances on the quality of study. The factors under scrutiny include whether the student has to pay the tuition, the type of college (state-owned or private), motivation for acquiring professional skills and the interest to the future profession.