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Students from higher–socioeconomic status (SES) backgrounds show a persistent advantage in academic outcomes over lower-SES students. It is possible that students’ beliefs about academic ability, or mindsets, play some role in contributing to these disparities. Data from a recent nationally representative sample of ninth-grade students in U.S. public schools provided evidence that higher SES was associated with fewer fixed beliefs about academic ability (a group difference of .22 standard deviations). Also, there was a negative association between a fixed mindset and grades that was similar regardless of a student’s SES. Finally, student mindsets were a significant but small factor in explaining the existing relationship between SES and achievement. Altogether, mindsets appear to be associated with socioeconomic circumstances and academic achievement; however, the vast majority of the existing socioeconomic achievement gap in the U.S. is likely driven by the root causes of inequality.