Despite the celebrated history of not-for-profit institutions of higher education, today more than 2 million students are enrolled in for-profit colleges such as ITT Technical Institute, the University of Phoenix, and others. Yet little is known about why for-profits have expanded so quickly and even less about how the power and influence of this big-money industry impact individual lives. Lower Ed, the first book to link the rapid expansion of for-profit degrees to America's increasing inequality, reveals the story of an industry that exploits aspirations.