While most teacher preparation schools and programs inadequately prepare teacher candidates to serve students of color effectively, many minority serving institutions (MSIs) have a long history of successfully preparing teachers to provide high-quality education to students of color. This paper examines the experience of MSIs and other institutions that are working with intention to grapple with how race, gender, and class impact education. The authors draw lessons that may be applicable across programs and types of institutions to better prepare teachers to educate today's students. To understand how schools of education and teacher preparation programs can better prepare teacher candidates to work effectively in increasingly racially diverse schools, they conducted a comprehensive literature review and interviews with nearly 20 experts and practitioners, with an emphasis on those from MSIs. Based on this research, they found three key areas of focus to help schools of education and teacher preparation programs better prepare teacher candidates to serve students of color: (1) Incorporate well-designed courses dedicated to culturally relevant pedagogy as well as multicultural education and work to embed those principles throughout the program; (2) Design field experiences intentionally to ensure candidates engage with diverse students, contexts, and other educators; and (3) Increase diversity in program faculty and in the teacher candidates themselves. These recommendations are applicable not only to teacher preparation programs, but also to colleges and universities more generally.