This study examined the relationship between stressful life events, internalized symptoms of stress, and academic achievement among a sample of Hispanic students in a large urban high school. Using a paper-and-pencil questionnaire, students were administered the Hispanic Children's Stress Inventory and two measures of internalized symptoms (Revised Children's Manifest Anxiety Scale and the Children's Depression Inventory). Perceived competence was measured using the Harter Perceived Competence Scale. A series of hierarchical multiple regressions revealed main effects for stressful life events and perceived competence on grades, anxiety, and depressive symptomatology. In addition, interaction terms were entered into the regression equations to determine if perceived competence was a moderator of stressful life events. Direct effects of stressful lifeevents and perceived competence on school grades and internalized symptoms were found. Multiplicative interactions for perceived competence were not significant moderators of psychosocial stress on grades or internalized symptoms.