For nearly 30 years, student-built space missions have provided an unique opportunity to launch small spacecraft with a small budget. Among the technical and educational merits of such projects, one significant outcome is the cross disciplinary training for undergraduate science and engineering students that prepares them for a future career in industry. The experience of many schools in the U.S. and around the world indicates that hands-on, project-based education is very effective for

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... ng, retaining and training engineering students. In the last decade, programs such as the AFRL-sponsored University Nanosat Program, the CanSat program, and especially the CubeSat standard have dramatically changed spacecraft engineering education. In an incredibly short period of time (especially by aerospace standards), such activities have helped foster strong aerospace education programs in schools with no history of space activity. In fact, it can be shown that the 'success' of these programs was a direct result of their satellite-building activities. In this paper, we will discuss three related topics, (1) the status of the student-built space missions over last ten years, (2) the significance of these programs and their contributions to spacecraft engineering education and opportunities looking ahead, and (3) the broader impact of these programs on research, innovation and entrepreneurship.