Private for-profit higher education has grown rapidly in many parts of the world. This growth is attributed to many factors, including a broadening of the student population and the recognition that wider access to higher education will be economically beneficial to individuals, governments and the society as a whole. In Australia, the number of students in private for-profit higher education is rising, with dramatic projections in the next 10 years, based on current trends. This article analyses the current growth of private for-profit higher education in Australia and the factors contributing to the growth. In addition, the article also outlines issues around quality and standards and challenges facing the private for-profit sector in Australia. This article makes a very important contribution to the higher education sector as there is limited research and literature on private-for profit higher education in the Australian context.