This study investigated the relationship between college students' perception of race-related barriers in career and educational development and their immediate (first-semester grade point average [GPA]) and long-term academic performance (4-year cumulative GPA) and the role of parents' instrumental and emotional support in moderating such effects. Participants were 820 undergraduate students at a Mid-Atlantic university in the United States. Path analysis of the proposed moderated mediation model indicated that (1) perception of race-related barriers was significantly and negatively correlated with students' 4-year cumulative GPA, (2) parents' instrumental support negatively predicted students' 4-year GPA, whereas emotional support positively predicted students' 4-year GPA, and (3) parental emotional support significantly buffered the negative direct effect of race-related barriers on students' 4-year GPA. Research and practical implications were discussed.