I heard that other institutions are using this option on their campuses ( @travis_thurston ), has this been found to be embraced by students, career services, student development or not and the idea seems to be more adaptable/flexible than ePortfolios. I would appreciate any feedback on this issue. Thanks!
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Generally speaking our campus doesn't use courses for portfolios, but we have found a lot of success in using courses for our student teacher and administrator portfolios. This has worked well, because as we are teaching students to edit their portfolios we're also teaching them how to edit Canvas courses: Teaching Portfolio Video Tutorial (for student teachers at USU - TEAL) - YouTube. In fact, @kenneth_larsen and I presented on this topic at InstructureCon 2014: Travis Thurston and Kenneth Larsen - Templatizing Courses and Leveraging the Magic of the Canvas API...
We have had a lot of positive feedback from our students who use the portfolios, and from the instructors who grade and manage the student portfolios. One other great feature that we added since last year was a Commenting tool which allows those grading to go in and make comments and suggested edits directly inline in the pages of the student portfolios. I'll include our initial video below, showing how graders could use the Commenting tool.
Let me know if you have any other questions. I'd be happy to share our experience.