In addition to experiencing types of school-related anxiety (such as test anxiety), common to all students, gifted students may experience forms of anxiety associated with giftedness itself. Support for this contention is found in the literature dealing with the perceptions of giftedness, with emphasis on the social stigma of giftedness; the big fish little pond effect with its negative impact on self concept; perfectionism, with its potential debilitating effect; and academic underachievement, with its unique application to gifted students. These topics are explored and recommendations made using the presenter's model of giftedness.