Students from rural and low socioeconomic backgrounds do not pursue university education at the same rate as those from metropolitan areas or from higher socioeconomic backgrounds. This has been a long-standing issue for government. This study explores the aspirations and intentions for university education among low socioeconomic status (SES) and regional school students and looks at how peer-mentoring might influence them. Through an analysis of the 2003 cohort from the Longitudinal Surveys of Australian Youth (LSAY), the study found that: (1) Although there is a substantial difference in the rates of higher education participation of metropolitan and rural young people, this difference is not attributed simply to location but rather to other factors associated with location; and (2) Compared with their peers from higher socioeconomic backgrounds, low-SES students have less favourable attitudes towards school, lower achievement at school, less ambitious post-school study and career aspirations and lower participation in higher education. An analysis of data collected from school students who were being mentored by university students showed that: (1) Students who received sustained mentoring revealed a significantly higher estimated likelihood of enrolling in a university course; and (2) While mentoring increased aspirations for university study, it did not reduce aspirations for vocational education and training (VET) programs. While this study is limited to the findings from one program administered at two schools, it provides a useful case study, in that it demonstrates the potential benefits of mentoring. Questionnaire measures are appended. (Contains 4 figures and 15 footnotes.)