A primary measure of success in both student and commercial software development projects is the value delivered to the client. Of equal instructional importance is to what extent the student perceives value in the process used to achieve this goal: is it a support or an impediment? Previous experience with heavy weight processes produced anecdotal evidence that students perceived them as onerous and irrelevant. To determine student perceptions of the relevancy of agile principles, we conducted a year long study during senior student software development projects in which they applied agile principles working with industry clients under minimal supervision. Results indicate a strong relationship between student perception of value delivered to the client and their perception of the value of utilizing agile principles to achieve their goal. This paper describes our study and supports the validity of using agile principles in student experiential learning of software development.