Whereas most research has focused on the influence of teachers on student engagement, we postulate that peer experiences -- particularly bullying behavior as a victim or perpetrator -- impact student engagement over time. Using a sample of 525 adolescents (46% female, mean age = 13.51) nested within 31 classrooms from Chilean schools selected by convenience sampling design, we examined the relationship between victim and perpetrator on student engagement. Concurrently, we examined school bonding as a predictor of student engagement as well as its potential role as a protective factor. Our results indicated that perpetration predicted students' cognitive engagement (at the individual level), whereas both being a victim (at the individual level) and school bonding (at the individual and classroom levels) predicted emotional engagement. However, classroom-level school bonding did not moderate the relationship between bullying and student engagement. Our study highlights the importance of building positive school climates for improving student engagement.