In this exploratory research, the authors categorize the benefits and challenges of participating in a mentoring program from the perspectives of mentors and mentees. The authors use the mentoring framework proposed by Crisp and Cruz in 2009 to inform educators. The authors report the percentage of mention, the level of occurrence, and the effect to university experience related to these benefits and challenges. Mentors reported the process of "role modeling" to be most beneficial yet challenging. Mentees reported "psychological and emotional support" to be most beneficial, but "academic and knowledge support" to be challenging. The authors provide discussions on recommendations for designing undergraduate mentoring programs.