Educational reform efforts have increasingly focused on students at risk of school failure. Educational reform in the 1990s shows a trend toward large-scale restructuring of schools. This document explores the relationship between reform-restructuring schools, and improving educational outcomes for students at risk. Two main questions are posed: Do the types of changes proposed for restructuring schools promise to benefit all students? and What aspects of restructuring are compatible with what we know about educating at-risk students? After reviewing the impact of educational reform on students at risk, recent educational reform is traced from a focus on excellence to one that includes disadvantaged and low achieving populations. An emerging consensus of how schooling is best designed for at risk students is described as raising expectations for all students, responding to student diversity, and building response integrated support. The following three dimensions of restructuring are identified and their potential effect on students at-risk is discussed: (1) changes in school governance, management and leadership; (2) changes in connections with the community; and (3) changes in the process of schooling. (81 references) (Author/LAP)