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This article examines the link between health in young adulthood and postsecondary success. In addition to considering differences in this association across types of health conditions, we also consider the role of potential mechanisms. In particular, we investigate whether three critical college experiences identified by theories of college student persistence—academic performance, social integration, and disrupted attendance—account for any differences we observe in rates of degree completion. Using nationally representative data from the Beginning Postsecondary Students (BPS) longitudinal study, we estimate models of timely baccalaureate degree completion using logit estimation. We find that, net of demographic characteristics, academic preparation, and institutional selectivity, students who report a mental health condition are significantly less likely to complete a bachelor’s degree than both their peers who do not report a health condition and their peers who report a physical health condition or some other type of health condition. Alternatively, students who report non-mental-health-related condition are no less likely to complete a bachelor’s degree than their healthier peers. Poor academic performance in the first year of college and disrupted attendance patterns explain the health-related educational deficit experienced by students who report a mental health condition. The findings highlight a potentially important role of mental health as a dimension of stratification within higher education. Policy implications are discussed.