In a study of 696 learners, the authors found that stress associated with challenges in the learning environment had a positive relationship with learning performance and that stress associated with hindrances in the learning environment had a negative relationship with learning performance. They also found evidence suggesting that these stress-learning performance relationships were partially mediated by exhaustion and motivation to learn. Both forms of stress were positively related to exhaustion, and exhaustion was negatively related to learning performance. Hindrance stress was negatively related to motivation to learn, challenge stress was positively related to motivation to learn, and motivation to learn was positively related to learning performance. Implications with respect to theory and practice are discussed. (Contains 2 figures and 3 tables.)