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To date very little scholarly research has explored the practices of for-profit colleges and universities and their role in the "business" of teacher education-much of which involves students completing programs and coursework entirely online. For the purpose of this article, the author has chosen to focus on the education of prospective teachers at one for-profit university and its entirely online Master of Arts in Teaching (MAT) teacher certification program leading to an initial teaching license. Drawing upon publicly available data derived from subpoenaed internal documents obtained from Bridgepoint Education Inc. and testimonies brought before the United States Senate Health, Education, Labor, and Pensions Committee, the author critically analyzes and describes the creation, closure, and reconceptualization of the online for-profit teacher education program at one proprietary institution. Implications for the future field of teacher education are discussed.