There is much educational concern about the disproportionate punishment of racial/ethnic minority students within U.S. public schools. Research evidence indicates that school punishment exacerbates the already‐known racial/ethnic inequalities within the educational system. What remains uncertain is if and how school punishment, justice, and fairness are moderating educational attainment for the children of immigrants. This study utilizes data from the Education Longitudinal Study of 2002 and incorporates multilevel analysis to examine how school punishment, justice, and fairness influence the educational attainment of children of immigrants. The study draws on straight‐line and segmented assimilation frameworks to evaluate variation in these effects by immigrant generation. Findings do suggest that improved school procedural justice and fairness could enhance educational attainment as well as ameliorate the detrimental impact of school punishment; however, these patterns are segmented by immigrant generation and race/ethnicity.