Distinct classes of multidimensional poverty were identified by using basic needs insecurity and relational poverty indicators to examine disproportionate poverty prevalence and structures based on race and first-generation college student status. By using LCA (Latent Class Analysis) with secondary data that consisted of a 3,886 U.S. college student sample, we found that there were different poverty structures based on race. Specifically, among Students of Color, four classes emerged: (1) Extreme Multifaceted Poverty (1.9%), (2) Moderate Poverty without Eviction (16.7%), (3) Relational Poverty (7.3%), and (4) Economically Secured (74.1%). White students had three classes: (1) Moderate Poverty without Eviction (6.6%), (2) Mild Multifaceted Poverty (7.2%), and (3) Economically Secured (86.2%). First-generation White college students were less likely to belong to the Mild Multifaceted Poverty class than the Moderate Poverty without Eviction class, whereas first-generation college Students of Color were less likely to belong to the Economically Secured class than the Extreme Multifaceted Poverty class. Theoretical and practical implications are discussed.