This study focuses on the parental decision making in relation to investment in the education or schooling of the child, distinguishing between school-attainment and schooling achievement as separate schooling outcomes of the educational production function. The Study used data from a survey of households from four communities in southern Ghana and children's examination results from the Basic Education Certificate Examination. The results show that school attainment and schooling achievement can be explained adequately by the child's own characteristics, the household characteristics and the community characteristics. Community environmental effects turned out to be strongest for the most urban of the four communities and weakest for the most rural of the communities. Educational policies must always consider both attainment and achievement as very important and necessary components of education production. Policies aimed at improving school attainment should have components, which aim at schooling achievement.