The widening participation agenda and related concerns about student retention require a more systematic focus on supporting student success. This paper describes a process designed with the dual goals of supporting the short-term academic recovery of students at risk of non-continuation due to early difficulties with assessment and developing their ongoing capabilities for self-regulation around challenging assessment tasks. Commencing students who failed or marginally passed their first piece of university assessment were invited to participate in a two-stage process: independently completing a reflective workbook designed to help them understand the reasons for their assessment performance, followed by a structured consultation with their tutor to identify improvement goals and strategies. Students undertaking the academic recovery process achieved higher pass rates for the second assessment item and for the course overall than a comparative group of students who did not participate. Findings indicate that a self-regulation-based intervention can contribute to students' academic persistence and success. Importantly, students experienced the intervention as providing insight into their underperformance on assessment and developing their capacity for metalearning. (Contains 3 tables and 1 figure.)