Early acceleration of students in mathematics (in the form of early access to formal abstract algebra) has been a controversial educational issue. The current study examined the rate of growth in mathematics achievement of accelerated gifted, honors, and regular students across the entire secondary years (Grades 7-12), in comparison to their non-accelerated counterparts. Using data from the Longitudinal Study of American Youth, hierarchical linear models showed that early acceleration had little advantage among gifted students, small advantage among honors students, but large advantage among regular students. Equity issues, especially gender, racial, and socioeconomic equities, are not a concern once regular students were accelerated, but there are serious concerns about racial gaps among honors students and both gender and racial gaps among gifted students once they were accelerated. Schools played an important role in early acceleration, with school context rather than school climate affecting accelerated students. Students, particularly regular students, having high achievement and attending schools with high average achievement were advantageous in early acceleration. Overall, early acceleration of students in mathematics benefits regular students significantly in terms of growth in mathematics achievement.