Students' time expenditures influence their learning and development. This study used latent profile analysis to identify a taxonomy of how first-year students spend their time using a large multi-institution sample. We identified four time usage patterns by first-year students titled Balanced, Involved, Partiers, and Parents. Sex, expected major field, on-campus residency, age, Greek-life membership, and standardized test scores were predictive of students' time use patterns. Holding a range of student and institutional factors constant, members of the involved group, on average, reported higher levels of engagement than the Balanced group, while Partiers reported lower levels of engagement. Implications for policy and practice are discussed.