The article presents a particular case of undergraduate students working on subprojects within the framework of their supervisors' (the authors') research project during Autumn Semester 2012 and Spring Semester 2013. The article's purpose is to show that an institutionalized focus on students as "research learners" rather than merely curriculum learners proves productive for both research and teaching. We describe the specific university learning context and the particular organization of undergraduate students' supervision and assistantships. The case builds on and further enhances a well-established and proven university model of participant-directed, problem-oriented project work. We explore students' and researchers' experiences of being part of the collaboration, focusing on learning potentials and dilemmas associated with the multiple roles of researchers and students that characterized this particular intertwined research and education arrangement. We show that the connection to the research project assisted students to orientate, learn, and contribute in relation to empirical and theoretical aspects of research and supported the development of broad perspectives and deep analysis.