Barrow joint boss Dave Bayliss told BBC Radio Cumbria: "I think he's been a little bit too hasty in wanting to leave but there's no hard feelings."
"He's been brilliant for the club but I do think he will regret the decision in the long term."
He continued: "Nick's studying for his PhD at university so it's not money-orientated.
"He's looking at his career outside of football. It's disappointing but it's got one of those things."
Rogan began his career with Morecambe where he made four starts, scoring twice.
A free transfer to Southport followed in October 2005 before joining Barrow in February 2006.
The Blackpool-born striker made 31 appearances for the Bluebirds in the Blue Square Premier last season scoring five times.
"We've put a lot of hard work into Nick and we will be commanding a fee for him," Bayliss said. "We're not going to let him walk away for nothing.
"There are not many players out there who can score 20 goals in the Blue Square North like Nick can. That's the level Nick wants to go back to so he can train twice a week and continue his studies."
Bayliss revealed that he is already in talks with a potential replacement for Rogan.
"We know we've got enough pulling power to go out there and get a better type of player for this league than maybe Nick would be," Bayliss said.
"We've got out eyes on one particular player who has been a target for a while. He's an experienced lad at this level and that's the kind of player we want."
One player who Barrow will not be signing is striker Lee McEvilly following his release by Rochdale last week.
McEvilly, a former team-mate of Bayliss at Rochdale, spent a spell on-loan at the Bluebirds at the end of last season.
"We're not going to be pursuing Lee, we have other irons in the fire."
The Bluebirds are also set to complete a new two-year deal for last season's top scorer Jason Walker.
"We've agreed a new deal with Jason," he said. "It was very important to get Jason to sign and that's a big plus for us."
The Bluebirds last week completed the signing of former Wrexham defender Simon Spender on a two-year deal.
Goalkeeper Tim Deasy, winger Carlos Logan, midfielders Mark Boyd and Andy Bond and defender Mike Pearson have all agreed new terms with the club.
Contract negotiations are continuing with central defenders Paul Jones and Steve McNulty.
Bayliss also revealed that he has been refusing to speak to players' agents as he continues his attempts to strengthen his squad during the summer.
"Either I speak to the player or I won't speak to the player at all," he said. "I just think it's ridiculous.
"You've got agents trying to get in on contracts when there is £10 or £15 on offer. As I say, I refuse to speak to them.
"When someone comes to us and says 'you can sign this player as long as I get a cut' then we would rather leave it and they can go and get their money elsewhere."
Source: BBC Sport
Source: BBC Sport