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Description: Item memory and source memory are different aspects of episodic remembering. To investigate metamemory differences between them, the authors assessed systematic differences between predictions of item memory via Judgments of Learning (JOLs) and source memory via Judgments of Source (JOSs). Schema-based expectations affect JOLs and JOSs differently: Judgments are higher for expected source–item pairs (e.g., “nightstand in the bedroom”) than unexpected pairs (e.g., “bed in the bathroom”), but this expectancy effect is stronger on JOSs than JOLs (Schaper et al., 2019a). The current study tested theoretical underpinnings of this difference. Due to semantic priming, JOLs should be influenced by the consistency between an item and any of the schemas activated at study. JOSs, however, should be influenced by the (in)consistency between an item and its actual source. In three experiments, source–item pairs varied in strength of consistency and inconsistency. Participants provided item-wise JOLs and JOSs. Regardless of an items’ actual source, JOLs were higher the more consistent an item was with any of the source schemas, but only if that schema was activated by occurring as a source at study. JOLs were also biased by the actual source: JOLs were lower the more inconsistent an item was with its actual source. By contrast, JOSs were primarily influenced by an item’s (in)consistency with its actual source (positively for consistency, negatively for inconsistency). Thus, participants metacognitively differentiated item memory and source memory.