Over the past century, the normative transition to adulthood has shifted in tandem with marked sociopolitical shifts in American society. Jeffrey Arnett’s (2000; 2015) Emerging Adulthood theory proposes a new developmental phase in the life course characterized by identity exploration, instability, self-investment, ambiguous identity with adulthood, and optimism regarding the future. Research suggests that Emerging Adulthood reflects more closely the experience of those who attend college than those who do not, but questions remain regarding potential differences in transitional trajectories within highly educated groups. This study seeks to investigate the possibility that Emerging Adulthood is not universal among college students, and collected data from 175 traditional-aged graduating seniors at an elite liberal arts school. The findings indicate that the transitional trajectories experienced and anticipated by wealthy students and white students in this sample were closer to Emerging Adulthood than those of less wealthy students and students of color.