The best book on this topic is by James Rosenbaum et.al After Admission, but here is the second article in a week from an additional perspective.
Can Better “Choice Architecture” Improve College Completion Rates?
by Judith Scott-Clayton
Many factors contribute to high college dropout rates, including poor academic preparation and insufficient financial supports. One potentially contributing factor, however, has received far less attention: that students may be overwhelmed by the very flexibility and choice that are the hallmarks of U.S. higher education. This commentary describes how choice overload can lead to mistakes, procrastination, and dissatisfaction as students attempt to navigate their way through college, and discusses potential solutions. Source Teachers College Record