This exploratory study aims to identify outcomes of a peer-mentorship program in a concurrent-education context. The study seeks to determine the impact peer mentoring has on target first-year concurrent education university student satisfaction and on the development of essential soft skills for fourth-year mentors. Positive outcomes were observed with the professional development of mentors, who demonstrated self-reflection and the acquisition of key soft skills for the teaching profession. Mentee participants articulated benefits associated with assistance becoming oriented in student life and their program, academic support, linkage to resources, social and emotional support, and integration into a learning community. Challenges experienced by participants are also identified. A conceptual model is proposed to reflect the domains of effective peer mentoring in higher education.