Measure as a company would.
Would you hire this person?
If yes, why?
If no, why?
Does the student show initiative by looking for extra work?
Would you give this person a raise? Why?
Can use an employee evaluation form in school?
Sample forms
nice word document http://www.peralta.cc.ca.us/projects/199/New_Confidential_employee_form.doc
verbose http://www.halogensoftware.com/products/halogen-eappraisal/employee-evaluation-forms/
succinct online form http://www.jobs.utoronto.ca/utemp/hire/evalform.htm
just for good measure http://www.dioceseofspokane.org/policies/HR/pdf/Employee%20Evaluation%201.pdf
detailed word 8 page evaluation form http://hr.ua.edu/benefits/documents/ANNUALEVAL06_000.doc
360 evaluation sample http://www.clisurveys.com/pp/test/admin.pl?main