The study provides an insight into student perspectives on quality in higher education, using Harvey and Green conceptualizations as the point of departure, and exploring the linkages between the views on quality, the developments of the Bologna Process and related national reforms, as well as students' motivation for and expectations from higher education. Using the data collected in a survey of the student population in several European countries, the study shows that students have a multifaceted perception of quality in higher education, very homogenous with regards to "quality as transformation/added value" perspective, but rather polarized with regards to "quality as value for money" perspective. Students seem to prefer perspectives that put them in the centre of the process, though not necessarily only as active participants and co-creators of the higher education experience, but potentially also as passive consumers. The results show some blurring of the boundaries between the more traditional Humboldtian and the consumerist views on higher education among students.