This study examines the impact of special education on academic and behavioral outcomes for students with learning disabilities (LD) by using statewide Indiana data covering kindergarten through eighth grade. The results from student fixed effects models show that special education services improve achievement in math and English Language Arts, but they also increase suspensions and absences for students with LD. These effects vary across student subgroups, including gender, race/ethnicity, eligibility for free or reduced-price lunch, and English language learner status. The findings reveal both the significant benefits and unintended consequences of special education services for students with LD, highlighting the complex dynamics and varying effects of special education. [This paper was supported by Notre Dame's Center for Research on Educational Opportunity (CREO) and the Institute of Educational Initiatives through their partnership with the Indiana Department of Education.]