The process of academic peer review—i.e., students evaluating each other's work—can help instructors address a host of higher institutional objectives, not the least of which is the total quality management of collegiate teaching. But more is known about this process from the viewpoint of instructors than from the perspective of students. The purpose of this study was to formally examine student views of a specific peer-review system in which undergraduates assigned final grades to each other's term papers. A survey instrument revealed a high degree of comfort with the process, as well as some insights into why a few students were uncomfortable with it.