This study examined the relationships among a set of psychosocial variables (academic competence, physical appearance, self-worth, and motivation) and between the psychosocial variables and academic achievement for 236 third grade and fifth grade native Spanish speakers and native English speakers enrolled in a bilingual immersion program since kindergarten. Analyses of students' responses to several measures showed significant main effects for grade on every psychosocial variable, with third graders scoring higher than fifth graders and significant grade level effects in Spanish mathematics and English reading and mathematics, with fifth graders outperforming third graders. English speakers scored higher than Spanish speakers in academic competence, English reading and mathematics, and Spanish mathematics; Spanish speakers outperformed English speakers in Spanish reading. The best predictors of current English reading and mathematics achievement were the Spanish and English mathematics scores from two years previous. Results are compared with previous research and discussed in terms of their theoretical significance. (Contains 21 references.) (JL)