How students manage their time is critical for academic performance and is an important component of self-regulated learning. The purpose of the present study was to examine relationships among first-year college students' (N = 589) time use, academic self-regulation, and target and actual grade point average (GPA) at three time points. Findings showed that students planned and spent less time on academics than socializing and work obligations in their first semester. Students generally planned to spend more time on academics in the second semester. Academic time use (planned and actual academic hours) related to higher self-regulated learning and target GPA in the first and second semester. Students who were farther away from their first-semester target lowered their second-semester target GPA instead of planning more time in academics. Students exceeding their target first-semester GPA planned to socialize more in the second semester. Orientation and transition programs that assist students may need to revisit time management and planning midway through the year to address potentially inadequate self-regulated learning in the first year of college.