Although college and university students occasionally argue that their grades should take into account their effort rather than solely their instructors’ appraisals of their achievement, grades are maximally useful if they reflect primarily achievement. At the same time, however, college and university teachers have an obligation to help their students understand grading standards and to provide feedback that will guide their students toward more effective application of their effort to achieve greater mastery and, thus, higher grades. Teachers also should help their students understand that effort and quality are not synonymous and that it is achievement, not the effort that led to it, that is rewarded.