This report examines the roles that minority serving institutions (MSIs) play and the challenges they face in educating students of color. The U.S. Census Bureau projects that students of color will become the majority in K-12 classrooms by the middle of the 21st century. Despite this shift, classroom teachers are not broadly representative of the students they teach; 9 of 10 U.S. teachers are white. Data from MSIs that make up the Alliance for Equity in Higher Education as well as profiles of teacher education programs at some MSIs show some of the ways that institutions are preparing qualified teachers of color. MSIs produce a large number of teacher education graduates in areas of high national need, such as mathematics and science. The diversity of teacher education graduates from Alliance member institutions is in stark contrast to that of non-Alliance institutions. The analyses in this report demonstrate the critical role of MSIs in preparing teachers of color. Some specific recommendations are made to support MSI, including increased federal resources, broader public investments, higher teacher salaries, and public awareness campaigns. The report also calls for partnerships among institutions that serve large numbers of students of color and increased study of minority teacher supply. (Contains 14 figures and 66 references.) (SLD)