The study analyses variations in school well-being, social inclusion, and academic self-concept in a population of Norwegian children born with a physical disability (N = 311). Overall, the children reported positive experiences regarding their social and emotional inclusion in school but tended to have a more negative experience of their academic self-concept. About half of the sample received special education in segregated settings, either within ordinary schools or in special schools. These children were characterised by a negative academic self-concept, and struggled with gaining acceptance from their peers. Children of mothers with high scores on social capital felt more included in terms of well-being and social inclusion. Controlling for severity of condition and other socio-demographic factors, the degree of placement in ordinary school settings was by far the most important determinant. These negative influences must be acknowledged and weighed against the benefits in discussions on the continuation of segregation practices.