Peer and self-assessment have become integral to advancing student-centered learning and professional growth in medical education. This letter to the editor explores the evolving role of these assessment modalities, emphasizing their capacity to enhance self-awareness, critical thinking, and reflective practice among medical students. The paper highlights the educational value of peer assessment, particularly when structured with multiple assessors and clear criteria, which improves reliability and supports formative learning. It addresses persistent challenges such as inconsistent implementation, lack of training, and fairness concerns, underscoring the necessity for faculty guidance and institutional support. The integration of portfolios and comprehensive feedback systems further enriches the learning process, promoting reflection and competency-based education. The letter also examines the limitations of self-assessment, notably the Dunning-Kruger effect, and advocates for robust feedback mechanisms to foster accurate self-perception. The association between assessment scores and professionalism is discussed, suggesting these tools can help identify students at risk for lapses and guide targeted interventions. Additionally, the reciprocal benefits of peer tutoring are recognized. The author calls for ongoing research and innovation to refine peer and self-assessment practices, aiming to maximize their impact on student engagement, collaboration, and preparation for the complexities of modern healthcare.