This chapter examines the significance of socioeconomic background (SES) for the educational dispositions and aspirations of Finnish comprehensive school leavers. After demonstrating the existence of the relationship between the students’ SES background and their dispositions and aspirations, the main question addressed is whether this relationship changes when controlling for the effect of students’ academic ability as measured by their literacy skills. In our examination, we draw on a study of 15-year-old lower secondary school students (n = 1058) in Turku sub-region consisting of the city of Turku and ten smaller, surrounding munic-ipalities. The results of our study are mixed. Students with high-level literacy skills have positive dispositions towards learning and education despite their socioeco-nomic background. The same is, however, not the case with educational aspirations. Among low-SES students, individual ability does not predict high educational aspi-rations in a similar manner that it does among high-SES students. This finding poses a challenge for the Finnish education system. If SES is a more significant predictor of educational aspirations of an individual than ability or motivation, there are nega-tive effects for both individuals themselves and society. From the individual point of view, self-exclusion of gifted low-SES students from higher education decreases their future labour market opportunities and outcomes. From the societal point of view, in turn, it means that many occupational fields will lose potentially talented and skilful employees. In these respects, the Finnish education system would not only be unequal but also inefficient.