This literature review analyzes the purposes of capstones as presented by faculty involved in capstone design and instruction. This review is valuable in offering a broad overview of capstone literature and present understandings—for example, capstones are frequently linked to development of employability skills and personal student attributes. In addition to a review of the literature, Lee and Loton conducted an online survey of 216 capstone educators internationally (with just over three–quarters originating from Australia, the authors’ base). Here, they found the 20 most highly rated purposes for capstones were similarly rated across disciplinary groups—implying they serve a common purpose regardless of discipline. The survey responses echoed what has been focused on broadly in the literature and adds some nuance that will be useful to readers seeking to understand capstones at an introductory level. Finally, the purposes raised may help designers of capstones identify shared purposes from which to backward design the capstone experience.