Pregnancy among adolescents/young adults continues at epidemic levels despite widespread concern regarding its social and psychological consequences. Cognitive psychologists point out that active decisions and behaviors such as those involved in effective contraception are facilitated or inhibited by any of a number of relevant attitudes and beliefs. The present investigation examined several such cognitive variables. Specifically, the following hypotheses were tested: Among adolescents/young adults, the use of effective contraception would be positively related to (a) the number of known cases of unwanted pregnancy of which subjects were directly aware, and (b) sexual guilt. A sample of 147 sexually active single college students aged 18–19 provided information relevant to these hypotheses. Analyses indicated that contraceptive behavior was unrelated to the number of unwanted pregnancies of which subjects were aware, but was substantially and significantly associated with sexual guilt, even when the possibility of pregnancy was precluded. The nature and implications of these findings are explored.