Using the High School and Beyond dataset, this report assesses the importance of social capital in determining academic outcomes of Latino youth. An introduction explains J. S. Coleman's definitions of financial, human, and social capital in the student's environment, social capital being the norms, social networks, and social relationships that benefit the child. Confirmatory factor analysis was used to operationalize social capital in home and school. Social capital of the home was measured by 12 survey variables focusing on parental expectations and involvement in student's high school activities. Social capital in school was measured by six variables related to teacher and guidance counselor influences. Data were examined for 1,658 Latino and non-Latino White sophomores in 13 western states, and for 1,329 of these students still in school 2 years later. Scholastic performance was measured by grade point average and by educational attainment 6 years after the sophomore survey. Educational attainment was lowest for students in vocational programs, whether Latino or White, a finding not fully explained by socioeconomic status (SES). White students in vocational programs had less social capital from home than Latinos in college-bound programs, and slightly less social capital from home than Latinos in vocational programs. Findings were similar for social capital from school. The study concludes that the social capital of home and school environments is very important in determining educational outcomes of both White and Latino youth, holding SES constant. Suggestions are offered for improving social capital formation in public schools. (Contains 28 references.) (SV)