Scope and Method of Study: This study was concerned with perceptions of academic facilitators, academic obstacles, and psychological well-being of college honors students. Differences in the way factors of academic success are perceived, and the relationship these perceptions have with psychological well-being were examined. College honors students, the targeted population of this study, are a complex group of students, as they are known to be academically successful, but can also experience stress to perform. This research attempts to show the connection between college honors student perceptions of factors of academic success and psychological adjustment. Participants completed the perceptions of academic obstacles scale, the perceptions of academic facilitators scale, as well as the six scales of psychological well-being. Each participant was placed into a low-medium-high group for perception of academic obstacles, and into a low-medium-high group for perception of academic facilitators. Multivariate Analyses of Variance (MANOVA) were employed to examine the mean group differences in Psychological Well-Being among college honors students. Findings and Conclusions: No significant interaction effect was found. There were, however, two significant main effects including the main effect for the perception of academic obstacles and the main effect for the perception of academic facilitators. Follow-up univariate tests were conducted for both of these main effects. Environmental mastery, positive relations with others, purpose in life, and self-acceptance were all negatively impacted by the perception of academic obstacles. Environmental mastery, personal growth, positive relations with others, purpose in life, and self-acceptance were all positively impacted by the perception of academic facilitators. Autonomy was not impacted significantly by either the perceptions of academic obstacles or perceptions of academic facilitators. Interestingly, this non-significant relationship is focused on an internal locus of evaluation, or looking to oneself for approval, and corresponds to the description of gifted students having a greater self-understanding. Further exploration in the differences of perceptions of factors of academic success across gender is warranted. The findings of this study show no significant difference among males and females for the perception of academic obstacles, but males were significantly lower in perceived academic facilitators than females. Multiple student populations, regardless of academic ability, should be explored to see if and how their perceptions influence their psychological well-being. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]