This mixed-methods study examined how school-related risk and protective factors influenced the academic performance and emotional well-being of military-connected LGBTQ+ young adults. While prior research has focused on LGBTQ+ students and military-connected youth separately, few studies have explored their intersection. Using an explanatory sequential design, 71 participants aged 18–25 completed a survey on school climate, victimization, identity expression, and academic performance. Follow-up interviews with six participants added depth to the findings. Results showed that school climate strongly affected students’ safety, self-expression, and engagement. Frequent relocations disrupted friendships and required students to assess each school’s inclusivity. Some participants disengaged due to marginalization, while others found stability in academic success. Supportive educators, inclusive policies, and affirming peer networks were key protective factors. Maslow’s Hierarchy of Needs guided the analysis. While basic needs, such as housing and food, were usually met through military resources, psychological needs like safety and belonging were inconsistently addressed, limiting students’ ability to thrive. The study highlights the importance of consistent, inclusive practices in schools serving military-connected youth. By centering LGBTQ+ voices, it offers insights for creating supportive environments where all students can succeed.