This article examines the question of the purpose and benefit of professionalization of student affairs. We discuss how student affairs is positioned and positions itself at the "third space," in the intersection of administration, management, and the teaching and learning of students. In addition, the student affairs domain often straddles boundaries and multi-disciplinary contexts, which results in complexity, ambiguity, and hybridity. We conclude by discussing key influences that need to be considered in the process of advancing debates and mitigating the risks of professionalization of student affairs in higher education.