Student volunteering is increasingly part of the zeitgeist of modern Universities as they seek to demonstrate their commitment to ensuring the health, well-being and employability of their students, and contributing to the public good. However, research in this field remains limited. In this study individual interviews were used to explore 50 British University students' experiences of volunteering within a health setting. Forty-five participants reported positive experiences of sustained volunteering whilst five were recruited specifically because they had stopped volunteering earlier than they had intended. Using grounded theory, a three phase model was developed which comprises five themes capturing key elements of the development and maintenance of student volunteering. Phase one-'Getting involved' outlines the 'motives and catalysts' for students starting to volunteer. Phase two-'Maintaining commitment' includes three components ('Making connections' 'Developing resilience' and 'Keeping the balance'), which represent important ingredients in sustained volunteering participation. Phase three-'Reaping the rewards' focuses on the benefits of volunteering identified by participants in relation to employability and self-development. We discuss our findings in relation to how successful volunteering enhances key components of psychological well-being: and facilitates 'flourishing' among student volunteers. The findings provide valuable insight into the motivations, behaviours and rewards that contribute to the initiation and sustaining of student volunteering. Further, they have implications for Universities involved in initiatives which include the training, mentoring and support of student volunteers.