The purpose of this phenomenological qualitative study was to investigate the impact of Division I intercollegiate athletic participation on the student learning and development of former student-athletes. More specifically, in what did ways these student-athletes perceive gains and losses as related to their overall life and career skills repertoire. The study is somewhat unique considering there is a dearth of qualitative research available regarding this particular research topic.The study focused on the specific ways in which former college student-athletes perceived how they had learned, developed and gained from their overall experiences as student-athletes. They were asked to interpret what were the important programs, techniques, strategies that contributed to their student learning and development. As important, they were asked to reflect on the persons most influential in their overall development as student-athletes. The study involved personal interviews with 19 former student-athletes from NCAA Division I institutions across a variety of sports and included both males and females.Ultimately, the findings of this study were consistent with the theoretical framework upon which the study was based, chiefly, that intercollegiate athletics can serve as a viable out-of-class learning experience and that critical life and career skills can be enhanced by effectively administered intercollegiate athletic programs. In essence, all of the participants perceived that their life and career skills had been positively impacted directly by their overall experiences as college student-athletes.This study suggests that intercollegiate athletic programs, when designed, implemented, and administered with appropriate personnel, programs, pedagogies, and strategies can essentially align with the overall mission of higher education.