Students beginning college chemistry are expected to arrive prepared with fundamental, prerequisite conceptual understanding and skills from high school. While some topics may be reviewed explicitly in the course, prerequisite material-including hidden prerequisites often overlooked by faculty-is typically considered assumed prior knowledge and not taught in General Chemistry. This study examines the correlation between preparedness in fundamental topics and success in first-semester General Chemistry. The examined content areas included math and physics, measurement, matter, atoms/ions/molecules, stoichiometry, basics of chemical reactions, thermodynamics, electronic structure, and bonding. Five areas (math and physics, measurement, matter, atoms/ions/molecules, and stoichiometry) positively correlated with success in General Chemistry, highlighting potential focus areas for resources to support students. Following the tenets of Quantitative Critical Race Theory, this study identified and quantified educational debts in preparation owed to students from historically marginalized groups. As a result of the pervasive effects of systemic injustices encountered by students from these groups, educational debts were observed in all prerequisite areas that correlated with student success. Moreover, these debts increased through the course, even when controlling for preparation. Specifically, Black and Hispanic students faced the largest educational debts in final course grades, with Black students receiving half of a letter grade lower than their White peers and Hispanic students receiving a third of a letter grade lower. These results emphasize the importance of addressing systemic barriers to reduce educational debts and providing constructive interventions to best prepare students and promote equitable outcomes.