Service learning is gaining growing attention in the academic community worldwide largely due to the benefits related to distinctive service learning outcomes. Among the many valuable student‐level outcomes, intention for future civic engagement through philanthropic behaviour is one of the most commonly investigated. This study provides an in‐depth analysis of students' participation in service‐learning programs and their future philanthropic behaviour in the form of volunteerism. A qualitative content analysis is conducted on the sample of students participating in an university's institutionalized service learning program of a transition country to explore its outcomes in this distinctive context. The findings identify four essential elements in assessing service learning participation, including three previously recognized ones and one emerging from the distinctive transition economy context. The findings are of particular importance for shaping the future civic engagement of students through philanthropic activities.