This paper reviews the research literature on for-profit higher education within the context of an increasingly marketized system of higher education in the U.S. The paper describes how market values have influenced important aspects of the system, including federal student aid policy, accountability standards, and the rise of the private for-profit sector. The paper concludes with some suggestions for future research that can provide a better understanding of the role that for-profit institutions play in the U.S. system of higher education.