I plan to lay it out as “this is not an option”, but I can easily foresee things happening. Struggling with some classes that need to be retaken, switching majors, maybe an illness or injury. Certainly quite a few students don’t finish in 4.
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Note that a common reason for needing an extra semester of college is academic difficulty, whose risk is inversely related to the student’s academic strength. I.e. a student who was a B student in high school is at higher risk of needing an extra semester of college than a student who was an A student in high school.
Of course, a late medical withdrawal could result in loss of a semester of costs, even if there is no academic penalty.