Students' emotions impact their learning and motivation. Yet, little is known about how educators perceive the role of student emotions during learning. In this mixed-methods study, we used Situated Expectancy Value Theory to investigate educators' perceptions of student emotions during learning. Educators, primarily teachers, (N = 188) completed a survey about one of the following randomly assigned emotions: curiosity, interest, confusion, or frustration. The survey included questions about perceived expectancies, values, and costs associated with supporting student emotions during learning. Open-ended questions probing educators' explanations of their responses were coded to understand factors associated with expectancy, value, and cost perceptions. From quantitative and qualitative data, we noted three integrative findings. First, educators reported relatively high levels of expectancy beliefs for supporting student emotions informed by their teaching experience and the extent to which they had developed tools and strategies to respond to student emotions. Second, perceptions of value depended on the emotion under consideration; positive emotions were valued more than negative ones, and the ways in which educators understood emotions as facilitating learning was specific to the given emotion. Third, despite identifying challenges such as the time and effort it takes to support student emotions, educators tended to push back against the idea that emotions have a cost during learning. Findings have implications for supporting educators as they navigate student emotions during learning and contribute to ongoing debates about the extent to which certain emotion and motivation constructs, especially interest and curiosity, are differentiated.