College students from historically underrepresented backgrounds (i.e., first-generation, low-income, and/or ethnic/racial minorities) may be less likely to utilize professional mental health resources on campus despite experiencing increased psychological distress. This study examined how psychosocial distress, mental health resource utilization, and perceived barriers to mental health care may differ for underrepresented and non-underrepresented students during the first semester of college. Participants were administered surveys as they entered college and at the end of the fall of their first semester. Our sample consisted of 131 underrepresented students and 154 students from non-underrepresented backgrounds. Underrepresented students showed a sharper increase in depressive symptoms across the first semester of college, perceived more stigma around using mental health services compared to their peers upon entering college, and were less likely to report planning to utilize counseling center services by the end of the first semester. Mental health practitioners should consider the unique mental health needs and barriers experienced by students from historically underrepresented backgrounds.