Meaningful student participation is essential to realizing democratic ideals within the university. However, existing structures for involving students within university governance suffer from a variety of shortcomings, leaving scholars calling for ways to make student participation more inclusive, effective, and thoughtful. To address this challenge, this article draws on deliberative democracy as both a theoretical framework and a source of practical innovation. In doing so, it explores the ways in which student participation in university government both does, and could, contribute to universities' 'deliberative capacity'--that is, their capacity to host inclusive, authentic, and consequential deliberation on shared issues. By evaluating the most prominent forms of student participation against these democratic ideals, the article offers a deliberative democratic critique of student participation that coheres, builds on, and gives new significance to existing criticisms. In response, the article then introduces deliberative mini-publics as a democratic innovation which, while of increasing significance in the public sphere, has been neglected in the university context. Drawing on empirical literature to account for universities' unique institutional realities, the article ultimately demonstrates mini-publics' potential to bolster deliberative capacity in university governance, both in terms of introducing deliberative inputs into decision-making and by cultivating the abilities and environment which support deliberative governance more generally. In all, by bringing together higher education and political scholarship, this work advances theory on student participation and university governance and offers novel directions for university practice.