More than a decade after Goddard, Tschannen-Moran, and Hoy (2001) found that collective faculty trust in clients predicts student achievement in urban elementary schools, we sought to identify a plausible link for this relationship. Our purpose in revisiting the trust effect was twofold: (1) to test the main effect of collective faculty trust on student achievement after controlling for free and reduced-price lunch and prior achievement, and (2) to determine if self-regulated learning mediates the collective trust-achievement relationship. Data were collected from 1,039 teachers and 1,648 students in 56 urban elementary schools. Results confirmed the hypothesized main effect of collective faculty trust and the hypothesized mediating effect of self-regulated learning. Mean math and reading achievement were higher in schools with a stronger culture of collective faculty trust. Schools with a stronger culture of trust also had students with more self-regulated learning. (Contains 3 figures and 5 tables.)