The aim of this study was to suggest and investigate model which includes the relationships between the adjustment of students, social support, the frequency of alcohol consumption, the problems associated with alcohol consumption and academic performance with control of neuroticism. With that, there are suggested and investigated models based on gender of participants. The study was conducted as a part of the "Risk and protective factors of mental health and academic adjustment of students" project and it was conducted on 490 students of the University of Rijeka. Participants completed College Adjustment Scales, Multidimensional Scale of Perceived Social Support, Student Adaptation to College Questionnaire, Five-factor model of personality Questionnaire, Consumption of alcohol Questionnaire, measure of academic performance and demographic data. The results imply the existence of a significant positive impact on the academic performance of the academic adjustments and negative on alcohol consumption and problems associated with drinking. Social adjustment shows a direct positive effect on the frequency of alcohol consumption and problems associated with alcohol consumption while emotional adjustment has a direct positive effect on success. Social support of the family and significant others have positive impact on academic performance while social support of the friends has negative impact on academic performance. The frequency of alcohol consumption has a direct positive impact on the problems associated with alcohol consumption that shows a direct negative impact on academic performance. Gender based analysis of the model indicates that the social support in male participants is affected by the emotional adjustment while in female students it is affected by social adjustment.The results are useful in the theoretical understanding of the independence of the constructs and they indicate importance of understanding the influence that student adjustment, social support and alcohol consumption have on academic performance of students.