Stakeholders of business schools expect graduates to have certain collateral skills in addition to the specific skills required by the discipline. These collateral skills have been identified as quantitative analysis, information technology, diversity, teamwork and interpersonal, critical and analytical thinking, verbal and written communication, and ethical. This literature review suggests that service-learning should be an excellent way to help students develop collateral as well as discipline-specific skills. This may be due to the high motivation to learn that students gain from working in the real world with individuals whose lives are impacted by the quality of service provided by the students. Figure 1 is a graphic representation of the model discussed in the paper.