Background Limited research exists on the experiences of engineering returners – those with undergraduate degrees who work for at least five years and return to academia for graduate degrees. Returners bring a different perspective to their graduate studies and postgraduate work than direct‐pathway students but face additional challenges. Purpose Our aim was to understand practitioners' decisions to return to graduate school and complete graduate degrees. Guided by expectancy value theory, we investigated their beliefs about their ability to succeed; the interest, attainment, and utility values returners placed on graduate school; the costs they experienced in returning; and the personal, programmatic, and cultural factors that mitigated these costs. Design/Method We employed a qualitative interpretivist approach to investigate the returning experience through semi‐structured interviews with 10 returners. We analyzed the results deductively, using expectancy value theory to understand participants' expectations of success and the values of those experiences, and inductively, to understand the types of costs that influenced the decision to return and complete graduate school. Results Utility value drove participants' decisions to return and complete graduate programs, and participants had a high expectancy of success in earning their graduate degrees. Four types of costs emerged from analysis of the interviews: intellectual, balance, cultural and environmental, and financial. Participants employed various strategies to mitigate these costs. Conclusions With the results of our study, potential returners can more effectively plan for success in the graduate environment, and universities can develop initiatives to better recruit returners and support their success.