We examined the relations between faculty mentoring and financial support on the retention of BIPOC and White students enrolled in graduate programs. Mentoring was significantly related to the retention of BIPOC and White students. Beyond the impact of mentoring, financial support had a significant and unique contribution to the retention of BIPOC students but not White students. Our findings suggest that mentoring is vital to both BIPOC and White graduate students. However, financial support seems to only impact the retention of BIPOC students after considering the contribution of mentoring. The implications of our findings are discussed. [The citation (v6 n2 Spr 2022) on the .pdf is incorrect. The correct citation is v6 n2 Fall 2022.]