With the academic risk and resilience perspective, this study examined whether global, authority, and teacher discrimination were indirectly related to academic motivation through self-esteem and depressive symptoms (H1), determined whether supportive maternal and paternal parenting moderated such associations (H2), and considered developmental differences (H3 & RQ1). Using self-reported data from 338 Mexican-origin female adolescents, the results partially supported the hypotheses. Indirect association and moderation were found among middle adolescent females of Mexican descent, but not for early adolescent females. Among middle adolescent females of Mexican descent, global discrimination was indirectly related to academic motivation through self-esteem but not through depressive symptoms. Supportive maternal parenting and supportive paternal parenting were moderators for Mexican-origin middle adolescent females but in unexpected ways.