A descriptive study was employed to determine differences in knowledge of literacy instruction and perceived preparedness to teach literacy between two groups of teacher candidates enrolled in two different teacher preparation programs at one university. This study investigated which components--coursework, field experience, and collaboration--candidates perceived as best preparing them to teach literacy while enrolled in their program. Data collection instruments included the Survey of Perceptions and the Knowledge Inventory. Both groups of candidates, regardless of program and amount of time in the field, viewed both coursework and field experience as important. Few significant differences were found between candidates in knowledge of literacy instruction. And, while they perceived themselves as prepared to teach literacy, candidates did identify areas of further instructional need.