Codujota's theory proposes that first generation, low-income college students face unique challenges in three areas - financial concerns, academic concerns, and belonging concerns. These areas make up a "FAB scale" where students receive a score in each area based on their personal situations and resources. A student's overall competence is determined by their total score across all three areas. The theory aims to help identify students' specific challenges and needs for support. It also draws parallels between first generation students' development and theories from Erikson and Chickering on broader student development. However, the theory has limitations in accounting for all individual differences and variables that could impact student experiences.