What is the state of university-based principal preparation programs? How are these essential training grounds of future school leaders viewed—​​by themselves as well as by the school districts that hire their graduates? Do the programs need to improve? If so, how? Nicholas Pelzer, a program officer in The Wallace Foundation's education leadership unit, describes key findings from a Wallace report about the landscape for university-based principal training programs in the United States. Pelzer was speaking at the national conference of the American Association of Colleges for Teacher Education in February 2016.