This study examines primary-school children’s beliefs about their school performance at the end of their first school year in Finland and feedback that they have received, and furthermore possible gender differences between these beliefs. Children from Grade 1 (N = 544), approximately 7 years old, were interviewed. The data were assessed using problem-driven content analyzis and inductive reasoning. The analyzis revealed ten categories of children’s beliefs regarding their school success and failure. The results showed that more than one-third of the children believed that they were succeeding well at school. More boys than girls mentioned that they succeeded in mathematics, and more girls than boys mentioned that they succeeded in literacy. Based on the interviews, teachers rarely gave feedback. Even less feedback was reportedly given by teachers when the children believed that they were performing poorly. Therefore, different modes of giving feedback and the way feedback is provided should be carefully considered.