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This study examined the joint developmental trajectories of attainment value and effort cost among 2,219 engineering students over four years. Utilizing a parallel-process Latent Class Growth Model (LCGM), five distinct trajectory classes were identified. High and increasing attainment value coupled with low and decreasing effort cost predicted better academic performance and higher graduation rates. However, first-generation students were less likely to be in these more adaptive classes. The findings underscore the importance of considering heterogeneous trajectories to understand the development of students' motivational beliefs. Future research should explore the joint development of attainment value with other cost measures in diverse contexts, providing insights crucial for targeted interventions to enhance STEM students’ persistence.