Getting students to use grading feedback as a tool for learning is a continual challenge for educators. This work proposes a method for evaluating student performance that provides feedback to students based on standards of learning dictated by clearly delineated course learning outcomes. This method combines elements of standards-based grading into a framework that uses Marzano's Taxonomy of Learning to guide the writing of clearly defined and scaffolded learning outcomes. By means of this methodology, students are equipped with increased levels of information obtained from assessments, both formative and summative. Students and faculty alike can more accurately diagnose strengths and weaknesses in learning down to the level of the concept(s). Early observations from a first-semester general chemistry course suggest that setting transparent standards for grading can serve as a valuable learning tool for students to allow them to focus on content proficiency rather than grades alone.