Higher education has evolved over the past three decades due to a number of factors including privatization and lack of government funding. This has resulted in the creation of a competitive market within this sector in order to attract more enrolments. Students in the last decade have been under pressure due to the lack of sufficient sponsorship and scholarship opportunities as well the pressure form potential employers and the rapid decline in the number of entry level graduate jobs available in many industries. Therefore, the need for more flexible study options catering for different students' and employers' needs has become necessary. In this chapter, we explore the different factors involved in flexible study options and delivery modes in higher education from a student's, as well as a service provider's, perspective. WE also investigate the available literature in order to explore the fine line between offering students a variety of study options to suit their specific needs, circumstances and learning styles, versus exploiting the tertiary education system through commercialization and implementing a pure business model that considers students as clients or service users rather than knowledge seekers. Maintaining this balance is imperative when considering ethical principles and maintaining the integrity of the whole educational system.