Students from a high socioeconomic background show relatively homogeneous, high levels of educational attainment, whereas students with a low socioeconomic origin display a large variability in their educational careers. In this paper, we examine whether the varying degrees of students' academic self-efficacy can contribute to an explanation of this variation. Focusing on Germany's highly stratified educational system, we utilized the CILS4EU dataset to analyse the association between the academic self-efficacy of students from low and high socioeconomic backgrounds in 9th grade and their later educational aspirations and transitions. Our results show that students from non-academic families are much more likely to (a) aspire to an Abitur, (b) transition to upper secondary school, and (c) enter tertiary education if they exhibit a high level of academic self-efficacy. In contrast, academic self-efficacy shows no link to the educational aspirations and decisions of students who have at least one parent with an academic certificate.