Online social networks (OSNs) are emerging as a young but rapidly growing phenomenon on the web. This study attempts to explore the behaviors and factors of self-disclosure of online social network (OSN) users with the theoretical insights of Social Exchange Theory (SET). The results show that self-disclosure behavioral patterns of college students are in line with the idea of SET, it also addresses college students' motivation, rational action, rewards, and cost factors of joining Facebook. Finally, a research model of information disclosure behavior pattern for college students is addressed. We also provide insights for OSN service providers and educators to cultivate a healthier online community.