Despite the obvious significance of the feedback phenomenon for school practice, there is a lack of valid analysis of students’ perception of feedback. This article explores how Russian adolescents conceptualize and perceive feedback as an educational tool. Descriptive research was conducted using an anonymous survey based on a questionnaire composed of open-ended questions. Seven hundred and three adolescents from large cities of Russia were asked questions about how they understood “feedback”, what kind of feedback they would like to receive, and what kind of feedback they actually received from teachers. This was followed by a field study that involved an overt observation and analysis of feedback manifestations in a secondary school program for gifted students (n = 140). Most senior students understand the range of problems associated with feedback, yet they perceive feedback itself as a resource to be used by the teacher, not by themselves. In their beliefs about feedback, adolescents intuitively rely on either “behavioral” or “existential” perspective. In the former case, feedback is perceived only as an external stimulus and the resulting response. In the latter, students regard feedback as a tool for dialogue, support, engaged communication, relationship development, and direct or indirect request for evaluation or assistance. The more complex interpretation may stem from students’ prior participation in situations of assistance and cooperation as well as their perceived need for a dialogue with the teacher or tutor. Since the sample was unrepresentative, the conclusions made in this study should be deemed preliminary. Nevertheless, they allow designing further research of feedback literaсу in Russia’s school education.