From the OED:(Original post by Goeke)
OP was not being arrogant. They simply realised that they are not at the same level as the majority of the people at their university. I went through the same thing, and can understand if OP is not completely happy being in that sort of environment. I was open-minded when I realised this at my university, yet in the end I just wasn't happy.
Of a person: having a high or inflated opinion of his or her own abilities, importance, etc.; presumptuous, excessively self-confident, or believing oneself to be superior to others.
...Should I go back to school?