Self-regulated learning (SLR) has been recognized as a pivotal antecedent of students’ effective learning and academic achievement. A self-regulated learner can independently and effectively plan for learning , choose and use appropriate learning strategies and reflect and monitor learning progress. Self- regulated learning, for learners in general and for distance learners in particular, is inevitable for effectual learning process. Present study was focused to explore upto what extent distance education system is successful in fostering self-regulated learning among learners at higher level. An attempt was made to highlight the strategies used to foster self-regulated learning and students perceptions about effectiveness of these strategies. Views of teachers of distance education system were also sought to disclose their level of sensitivity, awareness and preferences for endorsement of self-regulated learning among students. Students of MS/M.Phil Secondary Teacher Education enrolled in Spring 2011 were taken as sample for the study. Focus group discussion and interviews were used as the tool for data collection. Data analysis revealed that teachers were very concerned about development of the skills required to regulate one’s own learning among students of MS/ M.Phil program. Students considered the self learning activities, assignments, presentations and reflection activities as very effective ones for transforming them into self-regulated learners. Moreover teachers were familiar with the potential factors that influence learners’ ability to self-regulate their learning, in this context they suggested that more interactive course material and technology based assessment exercises can prove to be remarkable milestones on way to this destination.