A study was done to identify social, economic, and childhood characteristics of high and low achieving children living in adverse environmental conditions, and to test the association between achievement and specific risk and protective factors. In addition, the study identified the most powerful model for predicting achievement by comparing models. Using the National Educational Longitudinal Study of 1988, a baseline of data on school experiences was collected on a stratified sample of approximately 25,000 eighth grade children in 1,052 schools across the United States. The final sample consisted of 900 students, of whom approximately 500 were Black, 200 were Hispanic American, and 200 were White. In addition, four components constituted the base year study design: a student questionnaire and cognitive test, parent questionnaires, teacher questionnaires, and a school administrator questionnaire. Analysis of the data and comparison of five models found the following: (1) differences among all ethnic groups in reading and mathematics achievement; (2) more risk and protective factors for White students than other groups and more risk factors for Black and Hispanic Americans; and (3) differences across ethnic groups between high and low achieving students. Included are 16 tables, a 48-item bibliography, and an appendix containing 8 tables of data. (JB)