Racial discrimination and the COVID-19 pandemic are important risk factors for negative mental health outcomes in children and adolescents, but few studies have examined the relation between these exposures and posttraumatic stress (PTS) in middle school students. The current study evaluated the association between pandemic exposure and perceived discrimination with PTS symptoms in a sample of 173 middle school students at-risk for aggression in the Southeastern United States. Results indicated that while stressful pandemic experiences and perceived discrimination were both related to increased PTS symptoms in Students of Color, these associations were not present in White students. Study findings are discussed in the context of mental health disparity surveillance, service delivery models, and structural interventions to address discrimination, pandemic exposure, and compounding risk factors.