Lifelong learning is a social and cognitive process that helps individuals build on their knowledge, skills, and abilities throughout their lives. This process is transformational for older adults. This study examines the social and cognitive transformation of older adult women involved in a large lifelong learning institute in the United States. Sense of community and gerotranscendence are used as measures of social and cognitive transformation, respectively. The relationships of these concepts with life satisfaction and quality of life are quantitatively and qualitatively investigated. Findings indicate that sense of community positively relates to life satisfaction and quality of life, while gerotranscendence only relates to life satisfaction. The qualitative findings support these connections as well as demonstrate the transformative effects of lifelong learning. This study concludes that a social and cognitive perspective on transformation will be beneficial to future investigations of life satisfaction, quality of life, and other measures of individual and community well-being.