The present study examined the relationship between women's education and the total fertility rate from 1995 to 2010, based on data obtained from 140 countries, and how paid leave entitlements available to mothers moderate this relationship. Two-way fixed effects modeling was used. The findings revealed that there was a negative relationship between average years of female schooling and total fertility rates, however the relationship was significantly moderated if the country had generous paid leave. Results showed that if a country had 26 or more weeks of paid leave, the negative relationship between female education and the total fertility rate disappeared while controlling for GDP per capita, under-five mortality, and female employment. Findings from this study provide valuable information for policymakers concerned with decreasing fertility, and development of policies that support mothers who want to continue their careers while taking care for their children.