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Recent research has argued that familism, defined as a cultural preference for privileging family goals over individual goals, may discourage some Latino/a youth from applying to and attending college (Desmond and Turley 2009). Using data from the Education Longitudinal Survey (ELS), we find that Latino/a students and parents have stronger preferences than white students and parents for living at home during college. However, much, if not all, of these differences are explained by socioeconomic status, academic achievement and high school/regional differences. In fact, controlling for a few measures of socioeconomic background and high school achievement explains most racial/ethnic gaps in college application and attendance among high school graduates.