When examining enrollment and graduation grades, higher education remains less accessible for first-generation students. Dutch first-generation students are also less likely to attend honors talent programs. However, not much is known what is driving these effects. First-generation honors students might face identity-related and psychological challenges, such as identity incompatibility, which is associated with low levels of sense of belonging and self-efficacy. This study investigates what identity-related psychological obstacles first-generation students experience in honors talent programs through three studies using a mixed-method approach. Results showed that psychological identity factors are obstacles for first-generation students in honors talent programs, though these obstacles vary over time. First-generation students in honors talent programs experience more identity incompatibility than their continuing-generation peers. However, identity incompatibility does not influence their reasons for not participating in honors programs; instead, (lack of) self-efficacy does. Moreover, quantitative data showed that higher levels of identity incompatibility before and during the honors talent program relate to lower levels of (anticipated) sense of belonging and self-efficacy. However, the qualitative part of the study showed that students generally report relatively high levels of sense of belonging and self-efficacy in the honors talent program. Together, these results show that even though the honors talent program can be a warm and welcoming safe space for first-generation students, there also is a need for honors educators in The Netherlands and abroad to become more aware of the struggles of first-generation students and actively invest in recruiting and supporting this group of students in honors talent programs.