School victimization continues to undermine student well-being, educational attainment, and psychosocial development, with lesbian, gay, bisexual, transgender, queer, and other sexual and gender minority (LGBTQ) students experiencing disproportionate exposure to harassment, exclusion, and discrimination. This study examined the risk and protective factors associated with school victimization among LGBTQ students in Pampanga, Philippines, using a cross-sectional descriptive-correlational research design. A total of 384 self-identified LGBTQ senior high school and college students participated in a structured survey assessing experiences of victimization, perceived school climate, peer and teacher support, institutional inclusivity, and psychosocial outcomes. Descriptive and inferential analyses revealed that while physical violence was relatively infrequent, verbal harassment, teasing, and microaggressions were prevalent. Peer support and affirming teacher relationships emerged as strong protective factors, whereas weak institutional enforcement of anti-bullying policies constituted a significant risk factor. Victimization was associated with negative mental health and academic outcomes, including anxiety and reduced concentration. Anchored in Minority Stress Theory, the findings highlight the need for systemic, policy-driven interventions that extend beyond interpersonal support. The study underscores the central role of educational institutions in mitigating minority stress through inclusive governance, staff capacity-building, and accessible mental health services.