The second in a series of papers on a study of the environmental setting of learning disabled (LD) adolescents and young adults reports research on cognitive and academic functioning of 234 LD, 162 low achieving (LA), and 215 normally achieving (NA) secondary students and on socioeconomic status and school experiences. Data were obtained from Ss and their parents on student performance, differences between junior and senior high school levels, differences between LD and LA Ss, and the extent of underachieving in LA and LD groups. Among findings were that across four measures of socioeconomic status, there were no significant differences between LA and LD groups; that for junior high samples, LD Ss appeared to be underachieving to a greater extent, while for senior high Ss underachievement appeared equal for LD and LA groups; and that no differences were found among LA, LD, and NA groups on the variety and constancy of school experience. Tables with statistical data are included. (SB)