Indiscipline of students is one of the challenges faced by many learning institutions. Some students resort into indiscipline because they feel that they are not involved in management. Recognising the problem, a study was carried out to find out the extent to which student involvement in the management of a learning institution contributes to positive character development. The study used quantitative approach guided by the Asset-based theory and Conceptual framework for character development with questionnaires as tools for data collection. During the study, seventy-seven student teachers and eleven teachers from four DAPP Teacher Training Colleges under DAPP Malawi were involved. The study concludes that learning institutions should regard students as assets and involve them in some aspects of management so that they should use their abilities and skills in managing some issues at a learning institution. Such arrangement will consequently help students develop positive character such as hard working spirit, personal hygiene and desire to care for the environment, kindness and fairness towards each other, responsibility, tolerance and discipline.