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The attrition rate at the undergraduate level for STEM fields is a disappointing 48%, and this is even higher for low-income students. Approximately only 11% of students who identify as low-income earn an undergraduate degree within six years, while 58% of students from higher income backgrounds earn their undergraduate degree within the same timeframe. The high attrition rates coupled with the already existing low enrollment is adversely affecting the country’s economy as the supply of degreed professionals is not keeping up with demand. The academic persistence of a student is a critical factor in determining if a student decides to remain in a certain major or not. Researchers have concluded that enhancing the self-efficacy of a student results improves academic persistence which may positively influence retention. This study investigates the effect of autonomous, project-based learning on self-efficacy for 15 financially disadvantaged students. The learning experience was constructed such that all four sources of self-efficacy viz. mastery experience, vicarious experience, social persuasions, and physiological states were incorporated. Results indicate that the experience had a positive effect on the students’ perceived self-efficacy. Each student believed that these played a major role in the success of the project and that their success was very much deserved.