This study examined the socioeconomic status (SES), collegiate involvement, and social consciousness of low-income college students (LICSs) and higher-income college students (HICSs) in Taiwan. The study analyzed 1,453 LICSs and 1,453 HICSs from 156 colleges in Taiwan. The results showed that the two student groups exhibited different SESs and collegiate involvement; however, their social consciousness was similar. LICSs with highly educated parents and close relationships with their parents were approximately twice as likely to develop a high level of social consciousness as those without. Diverse collegiate involvement showed various effects, and collegiate involvement may neutralize authoritarian parenting on LICSs' social consciousness. This study helps social and educational systems to design effective interventions to facilitate LICSs' development of social consciousness.