Racially diverse teachers are valuable sources of knowledge in school systems. However, a lack of diversity among teachers has demonstrated long-standing issues with how racially diverse teachers are prepared for teaching. The present study sought to expand on prior research by examining the viewpoints of racially diverse preservice teachers concerning the strengths and shortcomings of their teacher preparation program using a transformative qualitative research design. We recruited participation among six racially diverse preservice teachers enrolled in a teacher preparation program affiliated with a university identified as a Hispanic-Serving Institution. We collected data through focus group interviews held during a two-week period and analyzed data systemically with two levels of coding. Our findings consisted of three main themes: Interactions with Peers and Teacher Preparation Program Stakeholders, Navigating Teacher Preparation Program Complexities, and Views of Preparedness/Unpreparedness to Teach. We provided a discussion of these themes, used critical race theory to identify examples of institutional racism, and issued three recommendations to university administrators for ways in which they may remove systemic barriers for racially diverse preservice teachers.