There has been rapid growth in private higher education in most countries, including in Asia, during the last two-three decades. This growth, mostly motivated by profit, has had an effect on education and development in general and caused loss of equity--both social and economic, an increase in regional disparities, an erosion in quality, a change in attitudes, an erosion of national, social and educational values, public pauperisation and private enrichment, the crowding-out of the public sector, the development of an imbalanced higher education system caused by a loss of important academic disciplines in favour of marketable disciplines of study and research, and above all the loss of the public-good nature of higher education. Although there are wide differences between several countries in the Asian region, not only with respect to the levels of development, socio-economic development policies and their effects, but also specifically with respect to the growth of private higher education, the article examines some of these recent trends in the growth of private higher education in the Asian region, the socio-economic and educational effects, and the public policies in this regard, and outlines some implications for the future. (Contains 7 tables and 1 figure.)