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The purpose of this study was to help bridging the gap between motivation and multicultural education by examining how the value and cost beliefs of college students in diversity education predict their achievement goals. Participants were 173 college students. Multivariate multiple regression analyses results demonstrated an overall significant predictive power of students’ value-cost beliefs over their achievement goals. In particular, students who perceived higher values reported more mastery-approach goals, whereas those who perceived higher cost endorsed more performance-approach goals. While confirming the importance of instilling high values, the results suggest the potential detrimental effects of perceived high cost of multicultural education. Future research can examine the longitudinal effects of college students’ value-cost beliefs on their achievement goals.