The Simple View of Reading (SVR) framework has been commonly considered with K-12 students and more recently used to understand community college students’ reading comprehension. This study examined whether the SVR framework is suitable for Georgia State University students, a diverse group with high proportions of first-generation college and underrepresented students. Previous research has found that demographic aspects (e.g., parental education) and readiness-to-learn also influence reading skills. Therefore, this study also included demographics (e.g., parental education, race/ethnicity) and readiness-to-learn. Results revealed that SVR components accounted for significant variance in college students’ reading comprehension. Readiness-to-learn was not a significant predictor of reading comprehension controlling for SVR components. Finally, there were differences in listening and reading comprehension performance by racial background, such that students identifying as Black had significantly lower performance than those identifying as White. This study has implications for understanding strengths and weaknesses in the foundational skills of college students.