Background: Drug use is common and positively correlates with depression and suicidality. Drug users are highly stigmatized, as society associates shame, blame, incompetency, punishment, and criminality with these individuals. These societal views can become internalized and projected onto the self (i.e. self-stigma). Self-stigma is associated with affective dysregulation and maladaptive coping behaviors. To the best of our knowledge, the relationship between self-stigmatizing beliefs, depression, and suicidal ideation among student drug users has yet to be investigated. Methods: Participants of the current cross-sectional study were college students (n = 502) who reported past year illicit drug use. Students completed a questionnaire assessing demographics, self-stigmatizing beliefs, depression, and suicidal ideation. Correlations, multiple regression, and mediation modeling were used to test study hypotheses. Results: Roughly, half of the sample experienced suicidal ideation within the past year and 49% of participants met or exceeded an established threshold for major depression using validated instrumentation. Self-stigmatizing beliefs were a significant predictor of depression (p < 0.001) when adjusted for covariates. Furthermore, self-stigma significantly and positively associated with suicidal ideation (p < 0.001), when adjusted for depression and other covariates. Our modeling also supported a possible pathway, wherein, a significant indirect effect on suicidal ideation was observed for self-stigma through depression. Limitations: This study did not account for possible effects that frequency, recency, and type of drug may have had on variables of interest. Conclusions: Interventions reducing social stigma toward users and resulting self-stigma are needed in order to reduce depression and suicidality as well as encourage treatment-seeking.