Changes in the demographics of the United States have resulted in growing numbers of minorities. Unfortunately, the field of psychology has failed to reflect these changes in the diversity of the academic student body and the national workforce. To ensure that the needs of the United States' increasingly diverse population are addressed through both culturally and linguistically competent research and practice, it is imperative to increase the racial/ethnic diversity among psychologists. This study explores the ways in which a national sample of undergraduate students, from various racial/ethnic groups, are similar and different in their perceptions of support, barriers, perception of diversity, monetary considerations, satisfaction with their studies in psychology, and intention to pursue a graduate degree in psychology, and in the interrelationships among these variables.

The findings revealed a positive relationship for all students between academic support and satisfaction with studies and a negative relationship between academic barriers and satisfaction with studies. There was also evidence of an interaction between race/ethnicity and the perception of diversity in the academic environment on satisfaction with studies in psychology. Specifically, African American students' reports of satisfaction with studies in psychology were related to their perceptions of the extent of cultural diversity in their academic environment to a greater extent than European American students. In addition, academic support was positively related to intention to pursue an advanced degree in psychology; however, there was no relationship between the other psychosocial predictor variables and intention.

Hypothesized ethnic group differences were found related to loan status and satisfaction with studies in psychology. In regards to loan status, African Americans were significantly more likely to rely on loans as their only form of financial support compared to European Americans, and on loans combined with other financial support compared to all three racial/ethnic groups. Finally, African Americans and Asian Americans were significantly less satisfied with their studies in psychology than their European American peers. Overall, the current study's findings contribute to our understanding of important factors related to enhancing diversity in psychology and provide additional support for the critical role of academic support related to educational outcomes.