With the proliferation of eportfolios and their organizational uses in higher education, it is important for educators and other relevant stakeholders to understand the student perspective. The way students view and use ePortfolios are revealing elements to aid educators in the successful integration of ePortfolio systems. This research describes the development of the Electronic Portfolio Student Perspective Instrument (EPSPI) and initial validation (N = 204) efforts in the context of an ePortfolio initiative in a College of Education. The EPSPI incorporates four domains from a student perspective: employment, visibility, assessment, and learning; and connects those domains with four relevant stakeholders: students, administrators, faculty, and employers. Descriptive analyses, exploratory factor analysis, and a qualitative analysis using grounded theory were used. Results indicate that student perspectives towards ePortfolios are multidimensional with three distinct, internally consistent underlying constructs: learning, assessment, and visibility. Qualitative analysis revealed four interrelated themes from a student perspective: system characteristics, support structure, purpose, and personal impact.