Parental alcohol abuse is an independent risk factor for attention and conduct problems at school, which is not fully mediated by adolescent mental distress. While the association between parent-reported drinking and school adjustment seems to be modest when alcohol abuse occurs without comorbid disorders, witnessing the parents drunk was a stronger predictor for poor adjustment. The association between school adjustment and both parents' alcohol use seem to be mediated by seeing the parents drunk. We cannot exclude that direct exposure to drunken parents partially causes the problems. Maternal drinking may be worse for children than paternal drinking, and maternal drinking may have an effect partially mediated by adolescent mental distress. Only the externalizing dimensions were associated with parental alcohol abuse. Despite more attention and conduct problems, children of alcohol abusers enjoy school as much as other children.