Loneliness and academic anxiety have become common problems for many college students. The purpose of this study was to investigate students' loneliness levels and their academic anxiety at the college level. The descriptive survey research method was used for the study and the sample consisted of 210 college students (99 male and 111 female) which were selected randomly from Govt. Degree College Pulwama of J&K. Russell et al. (1980) revised Loneliness Scale and Academic Anxiety Scale by Singh and Gupta (2013) were used. The result of the study showed that: (1) there is a positive relationship between students' loneliness and their academic anxiety; (2) there is no difference between male and female students' loneliness; and (3) there is significant difference between academic anxiety of male and female students. Based on research findings, researchers suggest that the psychological counselling and guidance services of colleges must be functionalized and improved to moderate students' academic anxiety and to decrease loneliness level.