A considerable amount has been written concerning the effect technology transfer has on openness in science, as well as whether technology transfer encourages a shift from basic to applied research. By contrast, little has been written concerning the impact technology transfer has on education. This essay addresses this gap by examining the potential that technology transfer has for affecting the curriculum as well as for impacting students directly. The essay concludes with two policy recommendations that have the potential for enhancing educational outcomes and a recommendation for a specific issue for further research. First, universities should consider investing some of the revenues from technology transfer in enhanced and expanded undergraduate education in science and engineering. Second, universities should collect data on job placements in industry. The research issue that is ripe for consideration is the role that peer effects play in graduate education and whether technology transfer alters these effects.