This qualitative study is an exploratory, retrospective content analysis (Schwandt, 2007) of 81 debrief statements collected over 3 years and written by graduate students in an educational technology graduate program's educational leadership course taught 100% online. Researchers analyzed students' debrief statements of lessons learned and task and role distribution resulting from student cofacilitation of 1 week of an asynchronous online discussion (AOD). Findings show that the student cofacilitators learned about the benefits and challenges of cofacilitating AOD, further developed their understanding of the concept of leadership, cultivated their collaboration skills, negotiated the different tasks and role assignments between them, and utilized a variety of technology to prepare for and manage the AOD.