The robust evaluation of student equity initiatives is now an expected activity in Australian universities. This paper reports on the development of Swinburne's Higher Education Participation and Partnerships Program (HEPPP) Evaluation Framework in which the project team adopted a student-centred design approach. The needs of Aboriginal and Torres Strait Islander students were positioned at the heart of the methodology and provided the starting point of explorations of student experiences in interviews and focus groups. We found that psychosocial support activities were critical to Indigenous students and those from low socioeconomic statue and/or regional or remote backgrounds and identified several additional Outcome factors of equity programs. Furthermore, we propose 'Prosperity' as a new Impact factor for evaluating equity programs to capture a broader notion of 'success'. We argue that insights from existing institutional evaluation frameworks need to complement the Student Equity in Higher Education Evaluation Framework (SEHEEF) as Australia's national framework and inform its continuous improvement.