This study examined the influence of risk and protective variables on Latino students' experience of depression, college adjustment, and drop-out intentions. One hundred and seventeen Latino undergraduate students at a Midwestern university participated in this investigation. Perceived bicultural competence emerged as a protective factor; and cultural incongruity, negative perceptions of the university environment, and intragroup marginalization emerged as risk factors for these psychological and academic outcomes. Multiple regression analyses revealed that cultural incongruity significantly predicted depression and college adjustment, and perceived bicultural competence significantly predicted college adjustment and drop-out intentions when other predictors were controlled. However, perceived bicultural competence did not moderate any relationships between risk factors and psychological and academic outcomes. [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.]