This policy brief summarises new research findings from two studies using Young Lives data that investigate how unequal backgrounds and gender, alongside skills and abilities, influence educational attainment in Peru. This includes analysis of who completes higher education, who has access to the best-quality universities and technical institutes and in which major/degree, and how this subsequently affects access to more highly paid jobs, including in relation to the impact of the COVID-19 pandemic.  An analysis of young people’s expectations of the earnings potential for completing both secondary and higher education, compared to realised monetary returns, shows how expectations biased by inequality and gender may have an impact on decision making. The brief presents key policy recommendations in response to these findings.