How students give meaning to their grades is important to discover some important aspects that affect their attitude and motivation toward learning. This qualitative study sought to understand the meaning making and valuing of Engineering students of their grades by determining their experiences in receiving grades, the meanings they attach to them, the factors that influenced their meanings, and their perceptions in themselves, classmates and friends, parents, and teachers. Data were gathered through FGD and analyzed through thematic analysis. The study revealed that the participants were disappointed with failing or low grades but never discouraged for they wanted to achieve a degree. Good grades made them feel happy. To the participants, grades meant their gained learning, effort, and performance; their future career and motivations; and their gift to their parents. Failing grades meant lost time. Factors that influenced their meanings were self-concept, gratitude, and hope. The participants considered their classmates a strong source of support. They perceived their parents were demanding but were also a source of encouragement. They appreciated teachers who teach well and challenge them. The researchers recommended that the students finish their study; the family to provide support; the teachers to return corrected papers.