Steve Lundquist attended Southern Methodist University, graduating in 1984. For about five years in the early 80s, Lundquist was the world’s greatest breaststroker, mainly over 100 metres. Between 1982-84 he set five world records in the 100 breaststroke, with his last coming in his gold medal swim at the 1984 Olympics, which stood until 1989. He also set a world record in the 200 individual medley at the 1978 US Nationals. He won six gold medals at the Pan American Games, winning the 100 breaststroke, 200 breaststroke, and medley relay in both 1979 and 1983. In 1982 he won the 100 breaststroke and was on the winning medley relay at the World Championships.
Lundquist became an actor for a brief time, studying at the Beverly Hills Playhouse School of Acting under Milton Katselas and Jeff Goldblum, and studying voice with Ron Anderson. In the 1990s he returned to school and earned an MBA from the Kellogg School of Management at Northwestern. He later settled near Atlanta, running his own company, Digipik, a digital media company. Lundquist was inducted into the International Swimming Hall of Fame in 1990.