Aspiring counselor educators in Council for Accreditation of Counseling & Related Educational Programs (CACREP)-accredited programs must learn to be counselors, teachers, supervisors, researchers, and leaders. These roles can overlap, creating multiple complex relationships during their programs. To examine these roles, we conducted a constructivist grounded theory investigation of how counselor education doctoral students (n = 9) balanced multiple roles and relationships and boundary crossings. We utilized chain referral sampling and continued until we reached theoretical saturation. We used semi-structured interviews conducted via videoconferencing (Zoom) for data collection and coded the interviews using two main phases: an initial phase and a focused coding phase. We used member checks by sending participants preliminary findings for feedback. The resulting theory describes two distinct stakeholders in the management of the multiple roles and relationships in counselor education: the students and the program. Students were responsible for balancing roles and responsibilities while considering professional growth, ethics, and boundary setting. The program was responsible for providing a growth-fostering environment and mentorship. Ultimately, the process of navigating multiple roles and relationships (MRRs) involves early discussion of MRRs, intentionality of program placement, assistance with boundaries and ethical decisions, and exposure to remediation and gatekeeping.