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This study describes findings from the first two waves of the Challenges of Safety and Transitions Study (COSTs), a prospective longitudinal study examining the costs and consequences of victimization among college students at two large, Minority Serving Institutions in the United States. We report participants’ experiences with violent, sexual, property, and cyber victimization during their first semester and the associated short-term financial costs related to employment, education, physical health, and mental health. Directions for future study on the long-term cumulative costs and consequences of victimization among college students are discussed.