Concerns about noncompletion and the quality of the 1st-year student experience have been linked to recent changes in higher education such as modularisation, increased class sizes, greater diversity in the student intake and reduced resources. Improving formative assessment and feedback processes is seen as one way of addressing academic failure, of enhancing the learning experience and students' chances of success in the early years of study. This paper argues that if this is to happen, a broader perspective on the purposes of formative assessment and feedback is required, one that links these processes to the development of learner self-regulation. It then shows, through two case studies drawn from the Re-engineering Assessment Practices project, how information and communication technology might support formative assessment processes and the development of self-regulation in large 1st-year classes. Finally, the paper presents a set of principles for the effective design and evaluation of formative assessment and feedback processes.