Most students regarded drug use in general to be risky and dangerous. Two behaviors with the highest endorsement of no risk, i.e., drinking one or two alcoholic beverages and trying marijuana, were endorsed by only 39.9 percent and 16.3 percent of the students, respectively. The perception of risk increased with drug involvement in most cases, but some drugs were regarded as risky no matter what their level of usage. Three-fourths to nine-tenths of the students identified any use of heroin as very dangerous. Over one- half perceived the infrequent use of prescription drugs as very risky. Perceived risk varied according to the frequency or the quantity of cocaine use and alcohol and marijuana use. Only 1 percent or less of the students perceived no risk to either use or casual use of PCP and steroids. Educational efforts on campus need to direct attention to developing a more responsible attitude toward alcohol use and a more particularized strategy toward interdiction and intervention concerning other drugs. 7 tables and 13 references