Differential predictors of the educational achievement status of homeless children were studied using multivariate statistical modeling. The effects of more general influences such as age, gender, and maternal educational level were studied before the influence of intellectual, behavioral, and emotional factors was examined. Participants were families of 127 homeless children receiving services in a comprehensive health care program for homeless children in Baltimore (Maryland). Results of the study provide support for age, gender, and maternal educational level as important predictors of academic achievement in school-aged homeless children and adolescents. Overall cognitive functioning, however, was the most salient predictor of academic performance. This finding suggests that the depressed cognitive functioning found in homeless and disadvantaged children is an important focus for remedial efforts. Emotional distress and behavioral problems were significant contributors to academic achievement levels beyond background and cognitive factors, and should also be targets for efforts to improve academic achievement and learning potential. Characteristics of homelessness such as residential instability and the level of major life stressors did not account for significant proportions of the variance in academic achievement. (Contains five references.) (SLD)