College student educators have long been interested in the ways gender affects and mediates one's higher education experience. While some theories explore gender identity development for trans students, a broader conceptualization is needed. To generate such an explanation, I used constructivist grounded theory methods to analyze a two-year study of trans college students. Using these methods, I generated a theory of transgender identity exploration to conceptualize how participants self-determined their identities and the aspects of their lives that promoted or hindered this process. This identity exploration theory will enable practitioners to better structure campus environments and programs for transgender college students.