Research in developmental psychology often contains samples where education and income are highly related. This study examines characteristics of low-income families who have at least one parent with a college education and how their children's achievement and parenting practices compare to other types of families. Using the Early Childhood Longitudinal Study 1998-1999, 768 families were identified as low income and college educated. The majority of parents were White, working, and married, with high educational expectations. Children from low-income, college-educated families scored higher on achievement tests compared to children from low-income, less educated and high-income, less educated families. Compared to these same two types of families, low-income, college-educated parents were more involved in school and home activities, such as taking their child to libraries. The present findings extend understanding of, and confront common stereotypes about, families living in or near poverty. Even when lacking financial resources, education may provide a protective buffer for low-income families.