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During 2010-20, period fertility in England and Wales fell to its lowest recorded level. The aim of this paper is to improve our understanding of the decline in period fertility in two dimensions: differentials by the education of a woman's parents (family background) and by a woman's education in relation to that of her parents (intergenerational educational mobility). The analysis finds a substantial decline in fertility in each education group, whether defined by a woman's parents' education alone or by a woman's own education relative to her parents' education. Considering parents' and women's own education together helps differentiate fertility further than analysing either generation's education in isolation. Using these educational mobility groups more clearly shows a narrowing of TFR differentials over the decade, but timing differences persist.