<p>Access to higher education in Chile has significantly expanded, driven by reforms to increase the inclusion of marginalized groups. However, its impact on intergenerational mobility remains uncertain. This study examines the extent to which higher education functions as an uplifting mechanism, raising occupational status across all social origins, or as an equalizing force, reducing the influence of parental background on the occupational outcomes of their offspring. Using unique survey data and a weighting technique to identify causal effects, the analysis assesses intergenerational persistence and the mediating role of higher education, distinguishing between university and technical tracks. Findings indicate that university education significantly improves occupational status but does not substantially reduce intergenerational persistence, even for graduates who benefited from expanded financial access. In contrast, technical education has a stronger equalizing effect, particularly for individuals from lower socioeconomic backgrounds, though its impact has weakened with the recent massification of higher education. These results suggest that expanding access alone is insufficient to promote social mobility and may even weaken the equalizing role of technical tracks. The study contributes to the ongoing debate on higher education’s role in socioeconomic mobility in Latin America and beyond.</p>