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Successful learning within self-regulated contexts relies on students to accurately monitor their ability to effectively make studying decisions. However, it is unclear whether metacognitive monitoring accuracy is stable or can improve over the course of a semester. This study investigates the effect that providing students with metacognitive monitoring feedback has on their monitoring accuracy. The results indicate that providing accuracy feedback does not help students improve their monitoring accuracy, and may actually lead to increased overconfidence in low-performing students. In addition, the change in monitoring accuracy over a semester is largely related to ability. While most students do not improve their monitoring accuracy over the course of a semester, some students demonstrate improvement the accuracy of their predictions.