The purpose of this pilot study was to explore the impact of mathematics and reading learning difficulties on the mathematics–vocabulary understanding of fifth–grade students. Students (n = 114) completed three measures: mathematics computation, general vocabulary, and mathematics vocabulary. Based on performance on the mathematics computation and general vocabulary measures, students were categorized with no learning difficulty (i.e., typical), mathematics difficulty without reading difficulty (MD–only), reading difficulty without mathematics difficulty (RD–only), and combined mathematics and reading difficulties (MDRD). On the mathematics–vocabulary measure, students with MD–only or RD–only scored significantly lower than typical students, and students with MDRD demonstrated significantly lower performance than students with MD–only or RD–only.