This study underscored the importance of addressing the well-being of college students of Asian descent, because these students had higher rates of depression and lower positive feelings about their ethnic group compared with students of European descent, as measured by the Affirmation subscale of the Ethnic Identity Scale. Affirmation mediated the depression difference between these groups. Within the Asian group, affirmation and depression were inversely correlated, and this relationship was mediated by acculturative stress.