I'll beat that. I've been done with my Masters coursework for over 2 1/2 years and I still haven't finished my thesis... and I've been paying for the mandatory minimum 2 credits per quarter ever since (not cheap!) to keep up my status as a student.
Granted, I got a job and moved away from the school about 6 months after starting my thesis work, which has hampered things a bit, but it's not like I was making tons of progress before that. The problem... no deadline. Procrastination was great for most of my college career... I had lots of free time to do lots of fun things. But procrastination kills when there is no deadline. No pressure = no work.
I also find that procrastination isn't as fun once you're in a job where you have to go into work every day. It's not like I can use my wasted time to exercise or learn to play an instrument or other good things like that. I just sit my cube and read stuff like Slate all day. Not so exciting. I've tried using wasted work time toward my thesis, but predictably that didn't work.