This study proposes a model to view and analyse college students' written peer feedback after they assess each other's formative task assignment and provide comments. The model was developed by: (a) revisiting learning-oriented assessment and feedback theories, (b) reviewing and summarising existing peer feedback analysis approaches as detailed in published empirical studies, and (c) analysing a small set of primary learner peer feedback data. In the proposed GEARed model of peer feedback, each complete piece of comment on one improvable unit may have four cognitive elements, i.e. identification of the "G"ap between performance and goal, "E"xplanation of the gap, gap-bridging "A"spirations, and being "R"esourceful to reach beyond the current knowledge/skill level. Two social-affective-interactive elements also play a part, i.e. being "e"ncouraging to the peer feedback receiver and "d"oubtful toward the provider self. Each feedback comment may contain any or all of these incremental elements rather than being assigned only to one category. It is argued that the absent or unresolved aspects in feedback leave room for the receiver to reflect and may suggest instructional actions for teachers. Finally, different patterns of GEARed component combinations are hypothesised and their implications for learning and teaching are discussed.