School feeding programs are politically popular interventions. They are, nevertheless, difficult to assess in terms of effectiveness since their impact is partially on education and partially on school health. They are, additionally, a means to augment consumption by vulnerable populations. The authors look at recent evidence from in-depth studies and argue that while school feeding programs can influence the education of school children and, to a lesser degree, augment nutrition for families of beneficiaries, they are best viewed as transfer programs that can provide a social safety net and help promote human capital investments.