This comprehensive study of MOOCs from the perspective of institutions of higher education includes an investigation of definitions and characteristics of MOOCs, their origins, institutional goals for developing and delivering MOOCs, how MOOC data is being used, a review of MOOC resource requirements and costs, and a compilation of ideas from 83 interviewees about MOOCs and the future of higher education. We identify six major goals for MOOC initiatives and assess the evidence regarding whether these goals are being met, or are likely to be in the future.