Student expectations have increasingly become a focus in Second Language Acquisition research. This study takes a closer look at student teachers’ expectations in a Master of Arts TESOL program at an Australian university to investigate their expectations and sense of fulfillment of these expectations. We employed a sequential explanatory mixed-methods design and conducted a questionnaire (N = 31) and interviews (N = 6) with student teachers. The results show that student teachers expect a well-balanced curriculum of theory and practice and consider teaching practice their top priority. While the expectations of most TESOL student teachers are met, different language profiles can lead to different expectations and potential conflict. Contrary to most previous research, this study showed that unmet expectations do not necessarily lead to unfavorable outcomes because of the student teachers’ ability to adjust in various ways. The study concludes with a discussion of implications for practice and future research.