Changes in school environments are sources of instability and stress for children. The social, educational, residential, and familial changes that usually accompany school changes are likely to exacerbate this stress and negatively impact academic performance. The full range of these changes that occur with school changes, and their relative effects on performance, have not been studied. Using administrative records documenting the educational histories of a representative sample of public school students, this study estimated the effect of mobility on academic grade point average, and the variation in this effect among different types of concurrent changes in children's social, educational, residential, and familial environments, controlling for students' prior achievement, personal characteristics, chronic absence from school, and school membership. Multilevel growth curve modeling was used to account for the nesting of annual measures within students and students within schools; cross-classification and multiple membership were used to account for all of the schools that students attended since beginning first grade. Overall each school change that a student experienced was associated with a deficit of 0.02 GPA points in the year of the change compared to similar students who had not changed schools. The study found greater declines in academic performance when students experienced changes in social, residential, and familial environments concurrent with school changes. Relatively stable school changes in which students moved with groups of peers, not triggered by changes in residence or specifically targeting individual students, had neutral effects on academic performance. Solo transfers, on the other hand, triggered by residential transfers with family structure change or financial issues, were negatively associated with academic performance; this negative effect was likely due to the loss of neighborhood and family stability in addition to the disruption of school-based social ties and academic routines. Further investigation is warranted into strategies to support students who are experiencing stress from changes that trigger school transfers, particularly those involving family structure changes or financial issues.