Recent findings indicate that hair cortisol concentrations significantly mediate associations between socioeconomic disadvantage and reduced hippocampal CA3 and dentate gyrus volumes in children. In this commentary, we discuss these results and highlight important future research directions, including focusing on hippocampal subfield structural development in relation to episodic memory and mental health; the mechanistic role of excitatory amino acids, such as glutamate; and how chronic stress and cognitive stimulation may make unique proximal contributions to socioeconomic differences in hippocampal subfield volume. Building on the findings in these ways will contribute to advances in strategies aimed at reducing socioeconomic disparities in academic achievement and mental health.