This paper is part of a case study aimed at researching the multilingual repertoires of young people from a linguistic and cultural minority. Further, it analyzes the role of and the place given to heritage languages (HL) in the development of a multilingual and intercultural competence in schools. In the scope of the study mentioned above, a survey was conducted using an online questionnaire distributed to students from a migrant background. These students attended two primary and secondary schools in the central region of Portugal during the academic year 2013–2014. Results show that the respondents value their HL and perceive them as an instrument of social interaction as well as identity construction and affirmation. Additionally, the results show that both school and teachers recognize and respect the students’ linguistic and cultural capital as well as their composite and plural identities. However, they do not take advantage of this in the classroom by not promoting activities that enrich their students’ cultural and linguistic culture. In this context, the possibilities for an education in/with HL, as a pedagogical and didactic project, are not yet present in the school curriculum and habitus, on the one hand, because there are no educational language policies that incorporate it, and on the other hand, because both school and teachers do not seem to value the role and usefulness of HL in the promotion of an intercultural and multilingual education.