This study investigates the behavioral and emotional problems of children with learning disabilities (LD), serious emotional disturbance (SED), and LD/SED, using the Teacher Report Form (TRF) and Child Behavior Checklist (CBCL). The sample consisted of 217 students with LD, 72 with SED, and 68 with SED/LD, ages 6 to 18 (mean age = 11.5). The students with SED were rated more impaired than the students with LD on all TRF scales except Attention Problems, and on three of the eight CBCL syndrome scales. The children with LD differed from those with SED mainly in terms of severity of problems, not with respect to type of problem. It is concluded that students with co-morbid LD and SED are underidentified and underserved in special education systems.