The research investigated the socio-economic status of parents as predictor of achievement motivation of students of Covenant University Ota, Ogun State. Data for the study were collected using an adapted version of Achievement Motivation Scale Questionnaire by Atkinson & McClelland. Stratified random sampling technique was used for selecting the sample. The sample consists of 300 students from 3 colleges in the university. Two null hypotheses were raised and tested using Pearson Product Moment Correlation Coefficient. Findings indicated that there is a significant correlation between parents' income and achievement motivation and also, a significant relationship between parents' type of accommodation and achievement motivation of the students. The null hypotheses raised were rejected which contradicts popular assumptions that students from higher socio-economic status have higher achievement motivation. Based on the findings, the study recommends that further research be carried out to determine the likely factors that may be responsible for low achievement motivation among students of high socio-economic background.