This chapter 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 educational institutions. It describes a qualitative study that gleaned insights from program coordinators and researchers regarding programs at higher-educational institutions in Canada, Australia, and Vietnam. 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. 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 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, pre-service 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. This 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.