While first-generation college students are "at risk", the majority "do" persist. Using in-depth interviews with 28 white college students I ask: How do white, first-generation, working-class students understand their college experiences, especially in terms of their academic, social, and cultural adjustment? Moreover, what kinds of factors seem to help or hinder their adjustment to college life? I discovered three patterns of adjustment among these students: (1) about half expressed few feelings of marginality and appeared well integrated into campus life; (2) one quarter experienced persistent and debilitating marginality; and (3) another quarter overcame their feelings of marginality en route to becoming socially and academically engaged on campus, with some transforming their feelings of marginality into motivation for social change. I argue that these variations can be understood by looking at how working-class students' economic resources may function as an asset, while their whiteness may function alternately as an asset and a liability. (Contains 1 note.)