How do students and alumni of for-profit colleges feel about their schools and the value of their education? Do they have distinct expectations, priorities, and needs compared with students who choose to study at not-for-profit institutions? Are prospective students effectively weighing their options before deciding to enroll at for-profit schools? For employers, how do for-profit colleges compare with not-for-profit institutions as a source for job applicants? These are the sorts of questions this research attempts to answer. It was prompted by the increasing prevalence of for-profit colleges in the higher education sector and debates over the value of these schools. Largely missing from the discussion so far have been the perspectives of for-profit students themselves, and those of employers who might hire them. This study gives voice to these central stakeholders. The main findings are: (1) For-profit undergraduates are not comparative shoppers. Most considered only one school before enrolling. (2) Adult prospective students who are considering for-profit colleges have some distinct expectations, priorities, and needs. (3) For-profit undergraduates and alumni laud their schools on key quality indicators, but many worry about the cost--and ultimate value--of their education. (4) Either employers are neutral on whether for-profit or public colleges provide a higher-quality education, or they give an edge to public institutions. A bibliography is included.