This paper examines "resilience" of mathematics students in transition from a sociocultural perspective, in which resilience is viewed as relational and in particular as a function of the social and cultural capital students may bring to the new field. We draw on two students' stories of transition, in which we recognise elements traditionally viewed as "risks" for mathematics students in transition into institutions where new demands are made. However, in each case it seems that some of their apparent background "risk factors"--coming from poorer socioeconomic backgrounds and disadvantaged schools--have come to serve to constitute capital, buttressing their particular resilience, as they provide a crucial kind of autonomy that is particularly valued in the new institution. We identify the learners' reflexivity as having been crucial to this accumulation of capital and we discuss some educational implications. (Contains 3 notes.)