Statistics on study disruptions and delays and their negative impact on academic performance call for action-regulation strategies that students can use to manage their performance and well-being. In the present research, we rely on the action-regulation model of selection, optimization, and compensation (SOC), which was developed in the life span developmental literature. The aim of the present study was to establish indirect links between two specific SOC components (i.e., elective selection and optimization) and study outcomes (i.e., end-of-first-year average grade and study satisfaction) through higher self-efficacy beliefs. In 2 prospective studies conducted during 2 subsequent academic years, we tested our research model with first-year undergraduate students (n = 366 in Study 1 and n = 242 in Study 2). Results of both studies indicate that there are positive indirect relations between optimization, but not elective selection, and favorable study outcomes through self-efficacy beliefs. The present study contributes to SOC theory and the educational sciences by showing that the SOC model of action-regulation can be helpful in explaining college students' grades and study satisfaction.