Alcohol use generally peaks during emerging adulthood, which resides between adolescence and adulthood. For many, this period is also marked by participation in higher education, and college campuses are well-known environments of high-risk drinking. This chapter highlights trajectory groups of heavy episodic drinking and reviews well-studied risk factors for and consequences of alcohol use. Risk factors highlighted include demographics, peer norms, parental awareness and caring, academic motives, personality, and subjective response to alcohol. Those at greatest risk are men, those with greater family wealth, sexual minorities, and Caucasian students. Greater sensation seeking or impulsive personality, low parental awareness, greater stimulation response, and higher peer drinking norms are significant correlates of risky drinking. The consequences of alcohol use examined are aggression, drinking and driving, and alcohol-induced blackouts. The chapter describes findings about special events during which extreme drinking is relatively common: 21st birthdays and football games or other sporting events.