Co-curricular and extra-curricular activities have traditionally been part of the student's application of knowledge and skills outside the structured curriculum. Co-curricular learning, in particular, is viewed as part of the student's authentic and real-life engagement with content often directed and administered by the program of study. Frequently, co-curricular learning occurring outside the programmatic structure, such as student affairs, has often been overlooked as a meaningful area to assess learning. In this article, we aim to define co-curricular learning and the assessment of these activities. We also highlight the importance of co-curricular learning spaces as a part of the student learning portfolio and the assessment data as an important contributor to program and institutional improvements. To review the current state of co-curricular learning, we examine the topic from multiple perspectives, including higher education institutions and accrediting bodies.