Paternal investment theory and psychosocial acceleration theory hold that father absence and stressful experiences, respectively, accelerate reproductive development. Accumulating evidence is consistent with these theories yet important questions remain. In this study, we use a two-part structural equation model and data from 342 female undergraduates to address two of these questions: First, what is the role of father absence in female psychosocial acceleration, controlling potentially confounding aspects of environment and family structure? Second, to what extent does age at menarche mediate environmental and family structure effects on sexual debut? Findings indicated that many aspects of environment and family structure could be summarized with two factors—socio-economic status (SES) and fragmented family structure. We found that among those who had experienced sexual debut, exposure to temporary father departure (one year or more) in the context of an intact family hastened menarche, which in turn accelerated sexual debut. However, this type of father absence did not predict experience of sexual debut (or not). Fragmented family structure (which also implies some degree of father absence) appeared to increase the likelihood that participants had experienced sexual debut, but did not predict age at menarche or age at sexual debut among who had debuted. SES was not associated with any aspects of reproductive development, controlling for fragmented family structure and age. We discuss our findings in relation to paternal investment theory, psychosocial acceleration theory, and life history theory. We then lay out future directions for researchers aiming to clarify the role of environment in reproductive trajectories.