As a nation built from the migration of peoples from every continent in the world, modern Australia developed a unique culture based on an egalitarian ethos. Recent research, however, suggests that social inequality is increasing and, in particular, social mobility is in decline. In this paper, I examine one aspect of social inequality that has long been regarded as a strong indicator of opportunities for social mobility: educational attainment. Using data collected by the Longitudinal Survey of Australian Youth 2003 (LSAY03) project, I examine the links between migration status and educational achievement at age 15, educational expectations, occupational aspirations, and educational attainment.