Prior research suggests that African American adults are more likely than White adults to experience negative alcohol use outcomes such as alcohol use disorder (AUD) despite reporting lower rates of alcohol consumption. Research also shows that African Americans experience higher rates of depression, which can increase risk for alcohol consumption and AUD through drinking to cope. The current study examined the role of depressive symptoms and drinking to cope in alcohol consumption and AUD symptoms among White and Black/African American college students. Participants completed an online survey during the fall (T1) and spring semester (T2) of their first year of college (N = 2,168, 62.8% female, 75.8% White). Path analyses were conducted to examine whether depressive symptoms and drinking to cope mediated the association between race/ethnicity and alcohol consumption and AUD symptoms, as well as whether race/ethnicity moderated the associations between depressive symptoms, drinking to cope, and alcohol use outcomes. Results indicated that White participants had higher levels of depressive symptoms and alcohol consumption than African American participants. Drinking to cope at T1 was also associated with more depressive symptoms at T1, higher levels of alcohol consumption at T2, and higher levels of AUD symptoms at T2. Also, there was an indirect effect of depressive symptoms on AUD symptoms via drinking to cope. Results from multigroup path analyses suggested that depressive symptoms were more strongly associated with drinking to cope for White students than African American students. There were no significant racial/ethnic differences in the associations between depressive symptoms or drinking to cope and alcohol use outcomes. Future research should examine the roles of race, depression, and drinking to cope in alcohol use outcomes for college students.