While most students “mature out” of normative undergraduate problematic drinking, many do not. Research demonstrates that drinking for coping motives impedes that maturing out process (Littlefield, Sher, & Wood, 2010). Social anxiety (SA) may be a particularly relevant risk factor for problematic drinking during these formative years. Drinking in university often occurs in (anxiety provoking for some) social situations and heavy drinking is often promoted and normalized by peers in these contexts. The goal of this study was to investigate SA as a risk factor for continued problematic drinking during the transition out of university. It was hypothesized that SA would be a positive predictor of drinking for coping motives and problematic drinking during the 9-months post-graduation, but only for those who believed that peers approved of heavy/risky drinking (i.e., high injunctive norms). Graduating students (N = 120 at baseline) completed online surveys pre- and post-graduation (3-, 6-, 9-month follow-ups). SA, injunctive norms, drinking motives, and problematic drinking were assessed. Latent growth curve modeling was used to test injunctive norms (between subject) as a moderator of the effect of SA (between subject) on within person change in coping drinking motives, alcohol use, and alcohol-related problems. Only the interactive effect on alcohol-related problems was supported. Counter to hypotheses, elevated SA was associated with a more rapid decline in alcohol-related problems, if injunctive norms were high. These results suggest that the transition out of university may be somewhat protective in terms of reducing risk for problematic drinking for some high SA individuals.