IntroductionHumanistic psychologists have conceptualized a tendency among humans to experience continual open‐ended psychological growth. This study aims to measure the rate at which one grows psychologically using a novel growth curve modeling approach that addresses previous limitations. We also examine the effects of nine potential contributors to growth identified from the literature.MethodThroughout the freshman year, 556 college students responded six times. Increments of growth were added up to create cumulative growth, which was then fit to a growth curve model to produce an estimate of the growth rate. The growth rate was then regressed on the Time 1 predictors to examine their unique effects.ResultsModels fit well. Five predictors significantly predicted the growth rate after controlling for the average of other predictors. When all predictors were entered simultaneously, three predictors (hope, meaning, and personal growth initiative) showed significant unique effects. The growth rate predicted well‐being and satisfaction at Time 6.ConclusionWe successfully measured the rate of psychological growth and examined its antecedents. Follow‐up analyses suggested that the predictors not showing unique effects may indirectly predict growth rates via the proximal role of the three significant predictors, an idea that awaits future corroboration using within‐individual designs.