In response to the Meredith v. Jefferson County Board of Education Supreme Court decision, Jefferson County Public Schools (JCPS) reconfigured the district’s race-based student assignment and implemented a race- and socioeconomic-based student assignment plan. Using hierarchical linear multiple regression, this study examined students’ backgrounds and school composition factors within a race- and socioeconomic-based assignment plan to determine their relationship with college and career readiness as measured by the ACT. We found that student race, participation in the National School Lunch Program (NSLP), ACT PLAN performance, school composition, and neighborhood category were the largest and most consistent factors for predicting college and career readiness. African American students were at a disadvantage in each model compared with White students. Participation in NSLP was negatively associated with student performance compared with non-NSLP students, and PLAN scores positively predicted ACT performance. School composition was found negatively associated with ACT performance (Title I compared with non–Title I schools), and Category 1 and Category 2 neighborhoods were negatively associated with ACT scores compared with Category 3 neighborhoods. We conclude by discussing implications for policy, practice, and future research.