The study was designed to examine relationship between academic self-efficacy and academic achievement of students in pre service teacher training programs. The study also aimed to explore difference in the self efficacy level of students enrolled in regular and self-supporting degree programs. The sample of the study consisted of 135 students enrolled in two teacher training programs in the Department of Elementary Education, Institute of Education and research, Punjab University. Survey method was used for data collection. Results revealed a significant positive correlation between academic self-efficacy and academic achievement of the students. Students enrolled in regular degree program had higher level of academic self-efficacy than students enrolled in self-supporting programs. The study revealed that over estimation of one's capabilities may deteriorate the level of performance.