In Brazil educational opportunities are not equally distributed. On average black students tend to achieve at lower levels and are more likely to have a history of repetition than white students. This study explores whether and how schools matter in promoting excellence and equity in primary education in Brazil. Specifically, it investigates the relationship between school factors and student achievement in fourth grade mathematics in order to identify those characteristics of schooling related to educational effectiveness and equality. Using 2003 data from the Brazilian National System for Evaluation of Basic Education (SAEB), this study found that on average children achieve at higher levels in schools where a high proportion of the fourth grade curriculum is covered, teachers received training on applied classroom skills ( magistério ) and use a critical thinking approach to teaching math, teachers can choose their textbooks and textbooks arrive at the beginning of the academic year for all children in the school, than in schools in which these conditions are not in place. However, this study also found that children from different socioeconomic and racial backgrounds are channeled to different schools. While white and high SES children tend to go to schools where the conditions outlined above are met, black and low SES children are channeled to less resourced schools. In addition, this research found that the same policies that can potentially bring about excellence are also associated with inequalities between low and high performing students.