At a time when implementation of electronic portfolios (EPs) is expanding, the issues of clarifying their purposes continue to plague teacher education programs. Are student-centered uses of EPs compatible with program assessment and accreditation efforts? Is this an either/or situation, or can a productive middle ground be forged? This article reviews the compatibility of key purposes for EPs in light of the changing landscape of their use in teacher education. It explores theoretical perspectives, analyzes policy implications and challenges, and provides recommendations that support current adoption and implementation decisions. It concludes that it is possible to effectively use EPs for varied purposes and provides specific recommendations for doing so. (Contains 2 tables.)