Positive psychology is a valuable framework for understanding teacher candidates' mental health perceptions. In the current study, we examined how the presence of meaning in life, search for purpose in life, psychological grit, and hope influenced teacher candidates' subjective happiness and depressive symptoms in a Hispanic Serving Institution. Using multiple regression analysis, findings indicated that hope and psychological grit were significant predictors of subjective happiness. Results also suggest that psychological grit was related to depressive symptoms. As well as providing recommendations for future research, we discuss the significance of these findings.