The purpose of the Peraj Mentoring Program is to aid in the social, emotional, and academic development of children from disadvantageous family, cultural, and socioeconomic contexts. School dropout has been recognized as a serious problem in the Mexican Educational System. The present study explored the effect of the participation in Peraj on school dropout risk of children. A questionnaire was specifically designed and administered in a pretest/posttest model to mentees and control subjects. The findings suggest that, in general, after participating in the Peraj program, the mentees showed a decrease in their risk of dropping out of school. In contrast, the control subjects, who did not participate in the Peraj program, showed an increase in dropout risk. Thus, there is evidence to support that Peraj mentoring can be a useful tool to reduce the dropout problem in Mexico.