Using the National Longitudinal Survey of Freshmen dataset, this study examined how students' within- and between-group racial contacts mediated the change of in-group and out-group racial perceptions across White, Black, Latino, and Asian students. This study was grounded in intergroup contact theory and employed multi-trait multi-method structural equation modeling (MTMM SEM). Important findings include: 1) students' in-group pride and out-group prejudice decreased during college; 2) Latinos had the most interracial contacts, making Latinos' perceptions of others and others' perceptions of Latinos the least resistant to change; 3) White students had the least interracial contacts, making White students' perceptions of racial minorities and racial minorities' perceptions of Whites the most resistant to change; 4) interracial contact mediated the change of racial perceptions asymmetrically between the two groups involved, depending on group social and academic status; and 5) Black students experienced the change of racial perceptions via racial contacts in significantly different ways than the other three groups. Implications emphasize facilitating and examining interracial contacts not only between White and minority students, but across all four racial groups. Suggestions are also provided for future longitudinal studies to adapt the MTMM SEM design to examine race relations across racial groups. Appended to the presentation is: Model Fitting Results.