Many reports have identified a perceived lack of quality in regard to assessment feedback in higher education contexts. One research study in 2007 on undergraduate university students found that less than half of the students (46%) collected their formative feedback, suggesting that from their perspective feedback clearly was not fulfilling the role it should. This is a study of 465 graduate students and 101 undergraduate students studying teacher education at a major Australian university. The study investigated what students perceived to be effective, quality feedback based upon their extensive higher education experiences. Students identified preferences in regard to form, detail and timing of assessment feedback. The data were collected by means of pen and paper survey and identified which strategies the students perceived to be the most effective, particularly within the context of large cohort teaching and written assessment formats. Findings agreed with research elsewhere regarding problems with assessment feedback quality and quantity, but students also provided clear indications of how realistic improvements could be made in terms of assessment feedback processes and strategies. (Contains 4 tables.)