This systematic literature review provides an overview of how higher education in engineering, in collaboration with industry, supports student transitions to work life. A qualitative content analysis of 36 articles published between 2013 and 2023 indicated that this collaboration provides numerous benefits for all stakeholders; however, challenges can impede or even halt those efforts. The reviewed articles address curricula, motivation, and professional aspects and demonstrate evidence of international research collaborations. Common collaboration patterns include problem-solving, product development, and assisting students in transitioning from academia to the professional sphere. While the benefits of collaboration are evident for all parties involved, challenges and hindering factors like time and resource constraints do exist. In the discussion, we introduce the six C's: key factors for successful collaboration between higher education and industry; namely, clarity, communication, commonality, commitment, continuity, and confidence. A framework outlining potential success factors for higher education-industry collaboration is proposed.