This transversal correlational study aimed to explore a) the depression, anxiety, and stress levels in students throughout their university teacher study years (1. – 5.), as well as how b) their levels are related to the theoretically and empirically relevant set of indicators of well-being (hope, life satisfaction, age, and teacher study choice). Academic life may be challenging and stressful, yet future teachers may at the same time display and develop buffering character virtues, including the strength of hope, as positive expectations about the future, involving optimism and focusing on creative solutions and good things to come, and therefore adapting to these ongoing challenges. Once current levels of DASS are described and juxtaposed to a set of indicators of well-being, these on-time informed students may be given means to build strengths and more skillfully serve as positive models for the primary school students that they (will) teach. The study included 204 students of university teacher studies aged 19 to 31, from one city in the Republic of Croatia. The instruments used in this study included on one side self-assessments of depression, anxiety, and stress, and on the other hope, life satisfaction, maturity, and teacher study choice. The significant canonical correlation of these two variate sets was at .70, explaining 49% of the variance. Within the study context, the correlation, mean-differences, and canonical correlation results point to close relationships of the measured constructs, as both informative of personality structures, and their processes in our developing, future teachers. The results of this study add to the current lacking knowledge on teacher character and its virtues and strengths and are discussed within the educational context.