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First-generation college students face substantial challenges, including lower campus engagement, delayed graduation timelines, and higher departure rates compared to their continuing-generation peers. This study investigates the mechanisms underlying these disadvantages, focusing specifically on first-generation students’ first year, a pivotal period marked by heightened attrition. Through longitudinal qualitative interviews with 68 first-generation students at a large public university, we examine the interplay between economic, cultural, and social capital and how these factors collectively hinder integration and increase vulnerability. Our findings underscore that first-generation students’ struggles are not merely due to pre-college disadvantages but are compounded by ongoing disparities in how crucial forms of capital are differentially valued, impacting campus engagement, academic performance, and mental well-being. Nevertheless, our analysis reveals that many students demonstrate resilience by strategically adapting to these inequalities, converting one form of capital into another to facilitate academic and social integration. This study contributes to the literature on educational inequality, social mobility, and first-generation college students by highlighting both the structural barriers these students face and the adaptive strategies they employ to persist. These findings underscore the importance of targeted institutional support that promotes inclusive pathways for first-generation college students in navigating college life.