Letting teenagers make mistakes

It's a good thing I started listening to Love and Logic tapes. My daughter announced today that she wants to drop out of college -- after just one semester. She's been home almost a month, and she has decided not to go back. She wants to work, make money, and be near her dear friends (who she's known about 2 years). I've let her know that I think it's a mistake, but I love her and hope that she will be happy with her decision. I've been having this conflict with her ever since she left for college -- a really good college, by the way, that I feel she was very fortunate to get into. But, she needs to learn on her own. If she has regrets, then that will help her to grow. To her, college is a punishment, not a privilege. Learning is hard, and she doesn't value it. Guess she needs to see what the working world is like, and I wonder how long she'll be so enamored with these friends from high school. We shall see.