This document discusses the objectives, advantages, and disadvantages of internships provided by colleges and universities to their students. The advantages of internships are listed as: (1) enhancement of student goals of career development; (2) promotion of favorable public relations for colleges; (3) provision of valuable services to alumni and the community; and (4) research opportunities for the students. The disadvantages are listed as: (1) exposure to litigation; (2) increased workload; (3) dilution of educational program; and (4) a fueling of student worship of the practical and preprofessional. The report emphasizes that while the concept of applied learning is supported at most colleges, disagreement surrounds the semantics of internship programs and the tension between faculty vs. student-centered perspectives increases. The paper emphasizes the importance of viewing these programs as a means of facilitating student growth, accommodating student needs, and achieving a balance between perfectionism and creativity. The report concludes with a discussion of some examples of undergraduate service learning at Ursinus College, Pennsylvania; a list of specific community service projects at the college; and a summary of optimal student learning experiences in the field. An outline of a conference of Ursinus College faculty on the internship experience is attached. (CK)