This case study examined co-curricular portfolios and transcripts at two institutions to investigate the use of co-curricular portfolios, how they are developed, how institutions utilize them, and how they shape student learning. This research contributed to the literature by documenting evidence of student learning, describing how students and institutions utilize these programs, and providing in-depth comparative analyses of two cases. Five assessment frameworks and the conceptual framework of Preparation for Future Learning were used to analyze the data gathered. Twenty-four students, four administrators, and one faculty member participated in interviews on two campuses where co-curricular involvement is documented by portfolios or transcripts. The findings indicated evidence of intrinsic student gains in the areas of self-awareness, pride and self-confidence, and transfer of learning; as well as extrinsic benefits including enhanced remembering and marketability. In addition, findings related to institutional perspectives described design and practice recommendations, practicality benefits, and challenges in implementing these programs. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]