American universities continue to top international rankings and to attract the world's best students and faculty, leading policymakers and the public to assume the US higher education system is delivering top-notch educational value to its students. Recently, however, significant cracks have emerged in this facade of excellence. Lackluster…

For decades, for-profit educational provision has been merely tolerated, often grudgingly. In the world of charter schooling, for-profit providers are lambasted and sometimes prohibited. In higher education, for-profit institutions have grown rapidly, enrolling millions of nontraditional students and earning enmity, suspicion, and now…