Psychology educators should have some advantages when it comes to responding to assessment planning and accountability mandates by virtue of their expertise in describing and measuring behavior. However, at this juncture, psychologists often show little enthusiasm for embracing assessment as part of their obligation in the teaching role. In this article, we offer some history regarding how assessment became such a dominating but unpopular force in higher education. We explore the lost promise of assessment from multiple perspectives, including the public, accrediting agents, administrators, faculty, and students. We argue for steps psychology programs can take to develop a true assessment culture and meaningful improvement.