This study compared the social-emotional implications of academic achievement for students with and without learning disabilities (LD) and identified predictors of effort investment. Students with LD showed lower levels of achievement, effort investment, academic self-efficacy, sense of coherence, positive mood, and hope, and higher levels of loneliness and negative mood. When compared to peers without LD (n = 447) at four different academic achievement levels, students with LD showed higher achievement than the low-average group, but their social-emotional profiles were similar to the low and low-average groups. Hierarchical multiple regression analysis showed that achievement, academic self-efficacy, negative mood, and hope predicted effort investment for students with LD. These results demonstrated the importance of hope in understanding the functioning of students with LD.