Although mentoring is widely valued and encouraged within librarianship, it has been conceived mostly as a professional relationship that occurs after one has obtained a position. Thus, mentoring among LIS students is not customary--largely because internships and field experiences are not universally required. To address this problem, the investigators wanted to distinguish the kind of education a mentorship program provides. This study identifies the kinds of knowledge academic librarians and LIS students gained after participation in a semester-long mentorship program. Data were collected through two focus group interviews, which were transcribed, analyzed, and compared for inter-coder agreement. The mentees gained knowledge related to the work life of academic librarians, job seeking, and workplace expectations. The mentors valued the experience because it promoted currency in the field, self-awareness, and reflection on practice. This research supports the need to emphasize internships and mentoring within the LIS curriculum.