While effective feedback has frequently been identified as a key strategy in learning and teaching, little known research has focused on students' perceptions of feedback and the contribution feedback makes to students' learning and teaching. This reported qualitative study aims to enrich our understanding of these perceptions and importantly to provide insight into the meaning of "effective" when related to feedback. The study involved four focus groups of undergraduate students of varying levels and from a range of Schools completing degrees in the Faculty of Health Sciences, University of Sydney. Students' perceptions relating to a definition of feedback, how they use it and preferences for delivery were prompted by the facilitators. Thematic analysis resulted in three key dimensions: perceptions of feedback, impact of feedback and credibility of feedback. The analysis demonstrated that effectiveness of feedback extends beyond mode of delivery and timeliness to include the credibility of the lecturer giving the feedback. The role of effective feedback includes not only enhancing learning and teaching but also facilitating the transition between school and university. (Contains 4 tables.)