This paper presents an interpretative phenomenological analysis study of students’ experiences with ungrading in the form of reflection-based self-evaluation in a college course. In the landscape of student evaluation, ungrading strategies respond to the limitations of traditional grading systems, particularly with respect to cultivating in-demand skills and capacities, such as adaptability, creative thinking, and self-management. Through in-depth interviews with eight students, this study reports on four experiential themes that characterize the switch to ungrading: de-gamification, or unsettling the “gamified” nature of evaluation in the traditional grading system; time to think and reflect, creating space for review and the deepening of learning; rich communication, or continual feedback between teacher and student; and learning community, in which students felt like they were part of a team effort rather than siloed individuals. Considerations for further research, as well as implementation of ungrading in other courses, are discussed.