Research has linked parents' educational expectations to children's educational attainment, but findings are inconsistent regarding differences in educational expectations by race and ethnicity. In addition, existing studies have focused on school-age children and their parents. In this study, we use a state representative sample to examine educational expectations among mothers of newborn children. Bivariate association tests for individual racial groups and logistic regressions for the full sample are conducted (weighted N = 2567). These investigate variation in mothers' educational expectations by race and ethnicity and socioeconomic status. The study finds that non-Hispanic Whites hold higher educational expectations for their children than do African Americans, American Indians, and Hispanics. However, these differences by race and ethnicity disappear when the models control for demographic and socioeconomic measures. Among the economic measures, financial assets and health insurance coverage are significantly associated with maternal educational expectations. Implications for research and policy are discussed. (Contains 3 tables.)