This study investigated the numbers of life events, perceived stress, interpersonal strengths (forgiveness, sense of humor, and gratitude), and mental health (psychological well-being, social well-being, and emotional well-being) among college students. It also examined the effects of interpersonal strengths on college students who experienced large number of life events. Survey data were collected from 270 college students of six universities in Taiwan. Results from structural equation modeling analyses indicated that interpersonal strengths fully mediated the relationship between the numbers of life events and mental health. Moderation of perceived stress by interpersonal strengths on mental health was not supported. Additionally, about 45% of the variance in psychological well-being was accounted for by forgiveness, sense of humor, and gratitude. Perceived stress, forgiveness, sense of humor, and gratitude explained about 36% of the variance in social well-being and 48% in emotional well-being. Counseling interventions, limitations, and areas for future research are discussed.