The government-funded healthy school lunch programme has enhanced wellbeing and delivered financial benefits for students and families after two years of operation, according to a qualitative study. Five focus groups (two with secondary students and three with family members) were conducted across four schools, and the principals were also interviewed. A range of contexts were represented: primary and secondary, schools with onsite cooks and schools using external caterers. Family participants were 82% Māori with borderline (73.5%) or no (8.8%) financial security. Thematic analysis identified seven positive impacts: improved food security, enhanced equity, increased appreciation of healthy foods for students, enhanced wellbeing for all, reduced financial hardship/stress for families, opportunities for nutritional learning and recognition that appreciation and uptake happen over time. Negative impacts were low uptake that created food waste, perception that healthy food is not palatable for students, lack of knowledge of the programme and loss of agency for students. It is essential to involve students and family members in programme planning, the study authors concluded.