Objective: To explain variance in depression in students (N = 648) using a model incorporating sexual trauma, pessimism, and risky sex. Method: Survey data collected from undergraduate students receiving credit for participation. Results: Controlling for demographics, a hierarchical linear regression analysis [Adjusted R[superscript 2] = 0.34, F(5,642) = 67.38, P less than 0.001] suggests that higher pessimism (t = 16.05, P less than 0.001), more sexual trauma (t = 3.76, P less than 0.001), and more risky sex (t = 3.40, P less than 0.001) were associated with increased depression. Not being in a relationship (t = 3.54, P less than 0.001) and being unemployed (t = 3.10, P less than 0.01) also predicted more depression in students. Conclusions: Results identify key access points for the treatment of depression in students.