Using newly available data from the Trajectories in Education and Careers Study, the first longitudinal study on a representative sample of high school students in Russia, we examined the importance of investments in human and cultural capital on students' mathematics and reading standardized examinations, as well as on the likelihood of matriculation into a selective institution of higher education. Studying mathematics and the Russian language on one's own for more than a year was positively and significantly associated with standardized scores and with an increased likelihood of matriculating into a selective university. A higher number of books at home was also associated with an increased likelihood of matriculating into a selective university. The findings are discussed within the particular institutional context of the Russian educational system.