FRONTLINE investigates how a new breed of for-profit universities are transforming the way we think about college in America.

Higher education is a $400 billion industry fueled by taxpayer money. One of the fastest-growing — and most controversial — sectors of the industry is the for-profit colleges and universities. Unlike traditional colleges that raise money from wealthy alumni and other donors, many for-profit schools sell shares to investors on Wall Street. But what are students getting out of the deal? Critics say a worthless degree and a mountain of debt. Proponents insist they’re innovators, widening access to education. FRONTLINE follows the money to uncover how for-profit universities are transforming the way we think about college in America.