I am trying to develop a model to understand attrition among students. Apart from binary classification, I am thinking of performing a survival analysis by following the students for 3 years at the end of which they will graduate. If I consider "attrition" as the "event" and the survival analysis would give me the chances that the student will continue their course for 3 years, the right-censoring of data is defined by an event which is "graduation".
Is survival analysis suitable for my attrition study ? If so, will the fact that the censoring of data is define by the fact the student has graduated affect the analysis. Further to this, there could be few cases where students take longer to graduate say for example 4 years.