Background: The positive learning effects of academic risk taking (ART) in higher education has been discussed since the 1980s. However, this may not apply equally for all social groups. Men and women may differ in the way they use ART to construct their gender identity. Students with different socioeconomic status (SES) may differ in their ability to navigate academic risks due to differences in available cultural capital. Aims: This study examines gender and SES disparities in ART and their impact on learning success. It explores if ART mediates and is moderated by gender and SES effects. Additionally, it assesses if ART directly predicts learning success. Sample: A sample of N = 381 German university students was used. Methods: Data was analyzed following a structural equation modeling approach. Results: Men show more ART on the seminar group dimension, whereas women show more ART on the peer dimension. Being male indirectly predicts higher learning success via the seminar group dimension of ART. Furthermore, SES and gender moderate the effect between ART and learning success. Both ART dimensions directly predict students' learning success. Conclusions: Our research contributes to understanding the mechanisms of social disparities within higher education and offers implications for the development of inclusive teaching strategies and research on aspects of intersectionality.