Abstract: | Research on community‐engaged learning tends to view this activity primarily, if not exclusively, from the vantage point of its benefits and challenges for students and educational institutions. Nevertheless, at least one other major actor is involved in this activity: the community. Neglect of the community perspective diminishes the overall value of student engagement. In this article we address this oversight by presenting new methodologies for valuing student engagement that take into account the community perspective. We argue that these approaches, which have their roots in the valuation of volunteer contributions to work organizations, can be extended fruitfully to the valuation of community‐engaged learning projects in institutions of higher learning. We recommend that application of these methodologies become an accepted part of the duties of university offices responsible for student engagement, and that researchers and practitioners continue to investigate more fully the value of engaged learning projects for the community. |