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The effect of peers on short term human capital formation has been largely studied in the education literature. However, the evidence in this context is still mixed, depending on the definition and operationalization of peer effects. Using national longitudinal data from Chile, in this study, we aim to contribute to this literature by focusing on the effects of peer socioeconomic diversity (rather than peer average socioeconomic status) as a function of the student's own socioeconomic status. Preliminary results show that the effect of peers' diversity varies depending on the student's own socioeconomic status. Results suggest that more disadvantaged students benefiting from having a socioeconomically diverse group of peers.