Studies have shown that there are not enough qualified foreign language and English as a second language teachers in this country. To increase the number of new second language teachers who remain in the profession, and to promote their use of best teaching practices, the ACTFL has identified mentoring as a national research priority. The importance of mentoring is further reflected in the new national standards established by the Council for Accreditation of Educator Preparation (CAEP) for teacher education programs. To address CAEP standards for advanced licensure programs and meet the needs of new second language teachers, a peer mentoring project was initiated. Using a mixed methodology, the researchers investigated the perceived benefits of a partnership between 27 mentors in an advanced licensure second language teaching program and 27 mentees, many of whom were practicing "lateral entry" second language teachers who had not yet completed second language teacher training. The results suggested that, when both parties shared content area expertise and worked together in a nonjudgmental, supportive manner, the partnership was mutually beneficial. The results also suggested that the relationship can be facilitated when both partners share certain commonalities, including age and amount of previous teaching experience.