This article employs the concepts of recognition and precarious mobilities to understand university education for people from a refugee background. The authors draw on their ongoing qualitative longitudinal narrative enquiry exploring the experiences of 22 students in Australia from asylum-seeking backgrounds during their three-year study for a Bachelor’s degree. Theories of recognition informed by the work of Axel Honneth and Nancy Fraser provide a conceptual framework for analysing the students’ experiences in navigating government and institutional policies and practices which often fail to recognise the unique needs of this distinct group. Few higher education institutions fully acknowledge the educational capital and transnational understandings that students from refugee backgrounds develop through navigating precarious mobilities. Instead of receiving recognition for these assets, such students often feel they do not belong in higher education in the host society. Thus, belonging, an essential component in supporting their success in higher education and settlement, is undermined. To appreciate how university practices are informing student experiences, the authors explore two competing discourses: “the education of international students is Australia’s third-largest export” on the one hand, and “higher education should be made available to all who can benefit from it” on the other.