Recent studies have demonstrated that alcohol expectancies co-vary with some measures of trait anxiety. As part of a college drinking survey with 606 respondents (75.8%) evenly distributed by sex, this study tests further whether social anxiety predicts the expectancies of tension reduction, increased social assertiveness, and social/physical pleasure. In addition, the study examines whether sex, social anxiety, and alcohol consumption interact to predict alcohol expectancies. MANOVA analysis demonstrated that social anxiety significantly predicts the expectancies of tension reduction and increased social assertiveness but not the expectancy of social/physical pleasure. No interaction effects were found among sex, social anxiety, and consumption to predict expectancy levels. However, previous evidence that consumption levels (but not sex) predict expectancies was cross-validated. Findings are discussed within the context of a broader social learning model of alcohol use.