Little is known about long-term outcomes for homeless youth once they leave secondary school. The present study aimed to fill this gap. An online survey was completed by 29 ex-students who, during 1997-2011, attended a small alternative secondary school in an inner suburb of a large city in Australia. While at the school most achieved at least a basic qualification. One question was whether this had any impact on their later prospects for stable housing, employment, income, and life satisfaction. Another question was whether the outcomes for these students were better in the short term or the long term. The results showed that (1) gaining further qualifications after leaving school was associated with stable housing and employment and (2) that in the long term (but not short term) ex-students were more likely to be employed, earning a higher income, in stable housing, and satisfied with their lives.