Many recent studies have stressed the importance of teacher candidates' (TCs) self-regulated learning (SRL) skills for successful learning. Because of the promising consequences of SRL for academic performance, teacher educators (TEs) are encouraged to increase TCs' SRL opportunities in educational programs. Because of the difficulty and complexity for TEs to successfully guide TCs towards SRL, the present study contributes to the discussion how to best facilitate TEs in finding a balance between student- and teacher-control. For this purpose, a conceptual model is presented. The model draws upon literature related to the perspective of the learner, the teacher and the learning task. Besides the context of teacher education, the model is beneficial for higher education as well as teaching and teacher professionalization. It will help instructors provide a more balanced approach between teacher- and student-controlled learning, and support students develop essential SRL skills.