Purpose: This study provides insight into the nature of peer-mentoring opportunities for teacher candidates, including common challenges and benefits that can be used to inform best practices for implementing peer-mentoring programs by higher education institutions. Design/methodology/approach: Qualitative interviews were conducted to glean insights from program coordinators and researchers regarding programs at higher education institutions in Canada, Australia, and Vietnam. Findings: Common challenges and benefits of peer mentoring for teacher candidate mentors and mentees are identified. The importance of embedding reflective practice in programs is discussed, highlighting strategies for improving reflection and engagement. Research limitations/implications: This exploratory study has limitations. Due to the small sample size, thematic saturation may not have been reached. There is a lack of prior research on the topic of peer mentoring in an undergraduate, pre-service education context. These factors indicate room for further exploration on this topic. This study reveals areas for further research. Research on best practices for the implementation of peer mentoring experiences for teacher candidates should be continued with larger sample sizes, and mixed methodologies. Differences in best practices in online and in-person peer mentoring programs for teacher candidates could be investigated. The value of mentoring as a reflective tool for professional growth should be further explored. The adequacy of structured and reflective peer mentoring as an adjunct or substitute for traditional mentoring by staff advisors may be of interest to provide more professional growth opportunities to teacher candidates at earlier stages and lower costs for institutions. Practical implications: To overcome common challenges associated with low engagement from mentees, both the mentor and mentee positions should be framed as active roles in a partnership essential for professional growth. Ideally, facilitators should designate time within the curriculum, such as course or lab time, in which mentors and mentees can meet. To increase mutual engagement, preservice education programs should make both roles mandatory, or offer each role as a credit course with academic incentives for assignments that demonstrate quality self-reflection and engagement. Social implications: Rather than viewing themselves as passive recipients of mentoring services, mentees can take ownership through engaging in valued mentee responsibilities, such as identifying needs, and communicating proactively. How mentee and mentor roles are perceived, and enacted, may be influenced by whether programs are presented as supports by mentors for mentees, or reciprocal professional partnerships required for mutual growth. Originality/value: The research offers insights into how peer-mentoring programs for teacher candidates can be structured to address pitfalls, enhance professional development, and support undergraduate teacher-learners. Practical recommendations for program coordinators and institutions are offered.