This study examines how inequality manifested during the emergency remote COVID-19 transition in higher education. We use 35 in-depth interviews with college students, conducted virtually, in real-time, during spring 2020 lockdowns, to examine how the transition impacted their lives. Students in the sample from lower-income backgrounds reported significant basic needs insecurity, financial instability, and academic struggles. Latino and Black students in the sample, in particular, reported financial instability, mental health crises, and academic struggles. Meanwhile, affluent white students and affluent Asian students in the study tended to face only minor setbacks or even flourish during this time. University and government policies exacerbated the negative experiences of marginalized students, often due to faulty assumptions that all college students have families who provide for their needs. While the particulars of this crisis were unusual, and this study took place at one institution of higher education, these findings suggest that higher education administrators must consider the implications of policies on the most disadvantaged students.