Using a qualitative case study design, the researcher sought to understand the internship phenomenon at one small, private four-year institution with an experiential learning graduation requirement of every student. This study sought to expand the research on mandatory academic internships and their impact on student development of communication, critical thinking, and communication. These are three competencies that employers are seeking in recent graduates based on research conducted by The National Association of Colleges and Employers. The researcher analyzed artefact data and conducted interviews with students. A strong relationship between site supervisor perceptions of student's development and student self-reported perceptions of their own development and the three competencies was found. The research found a lack of alignment between the program requirements and the academic internship coursework to the three competencies. These findings highlight that while programmatic requirements had marginal impact and academic internship coursework had some impact, students and site supervisors in their evaluations identified and elaborated on how development of communication, critical thinking, and professionalism occurred as a result of the academic internship program. The researcher identifies actions and practices that can be implemented by practitioners in higher education to support development of the competencies that college graduates need and that employers are seeking. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com.bibliotheek.ehb.be/en-US/products/dissertations/individuals.shtml.]