Project experience and teamwork have been identified as two of the most important deficiencies of recent graduates, so experiences with team projects are a critical component of computer science and software engineering education. However, evaluating these projects is difficult, as it requires a balance between rewarding the team's effort (and the development of skills that enable the team to work effectively) and recognizing individual contributions. We report on an investigation of the student perspective on evaluation of software development team projects. We find that (a) computer science and software engineering educators hold several misconceptions about students' preferences in teamwork evaluation methods, (b) that students' preferences with regard to evaluation change dramatically as they advance through the program and even in the course of a single term, and (c) that the change in preference occurs early in the term, before they complete any work as a team, with most students shifting their preference towards putting more weight on the team's effort.