This study tested a comprehensive model of the effects of noncognitive factors (academic mindsets, learning strategies, grit), as well as student background (e.g., Pell-eligibility) and academic preparation (e.g., high school GPA), on college academic performance (e.g. first-term GPA) and retention through structural equation modeling. Participants included 2,778 ethnically-diverse, first-year students at a large, public research university, who completed a noncognitive skills inventory during their first semester. Academic performance was directly affected by students' learning strategies and academic perseverance and also indirectly by their academic mindsets. Only participants' academic performance had a strong direct effect on retention. Students' background and academic preparation were also associated academic performance and modestly with noncognitive factors. These findings have implications for student support services.