Although recent findings have indicated that a portion of college students presenting for psychoeducational evaluations fail validity measures, methods for determining the validity of cognitive test results in psychoeducational evaluations remain under-studied. In light of this, data are needed to evaluate utility of validity indices in this population and to provide base rates for students meeting research criteria for malingering and to report the relationship between testing performance and the level of external incentive. The authors utilized archival data from: (i) a university psychological clinic (n = 986) and (ii) a university control sample (n = 182). Empirically supported embedded validity indices were utilized to identify retrospectively suspected malingering patients. Group performance, according to invalidity and the level of incentive seeking, was evaluated through a series of multivariate mean comparisons. The current study supports classifying patients according to the level of incentive seeking when evaluating neurocognitive performance and feigned/exaggerated deficits.