Through a qualitative investigation, the author examined the experiences of 12 Black graduate students to understand better the impact of stereotype threat (Steele, 1997a , 1999) and performance anxieties (Osborne, 2001) on their education in a traditionally white institution (TWI). The results of this study illustrate how some students enter the classroom anticipating that race--their own and their professors'--matters as it relates to their success in graduate school. Specifically, the results provide an understanding of the potential range of race-related perceptions that can hinder Black graduate students' participation in TWIs. The author concludes with an examination of the pedagogical practices that professors can employ to remove the stereotype "threat in the air." (Contains 3 notes.)