The drop date is the last day of the semester to drop a course, and not fail.
It's an important day, because it's the last day a student can avoid failing a course. In the olden days, a student could only drop 3 courses his whole career, and the drop day was in the first two weeks of the semester.
Administration, more than willing to screw students in order to increase growth, changed the rules so that students could drop courses over and over again, and changed the drop date to laaaaaaaate in the semester, to inflate the campus numbers as much as possible.
But a few weeks are left in the semester in much of the country.
And how do I know the drop date is near? Students are typing into google questions about what to do if failing in college, and finding my site. I'm getting more hits to the page I wrote on that (six months ago) than on the most recent six pages combined.
Welcome, students. Please, also read of the black secret of higher education so that you can see what's being done to you.