Excessive alcohol use and alcohol-related problems are common concerns on college campuses across the United States. Among a sample of college students (N = 125), in this study we examined two primary hypotheses: (1) the relationship between dispositional mindfulness and alcohol-related problems would be explained, in part, by reduced impulsivity and (2) dispositional mindfulness would serve as a potential protective factor in mitigating the relationship between the risk factor stressful life events and the outcome of alcohol-related problems. As expected, impulsivity mediated the relationship between mindfulness and alcohol-related problems; however, unexpectedly, mindfulness did not moderate the relationship between stressful life events and alcohol-related problems. The implications and limitations of these findings, as well as recommendations for future research, are discussed.