This difference in funding can affect student experiences in many ways, the biggest, of course, being the cost of attendance. Public universities and colleges were founded in order to make higher education accessible to state residents, with state legislatures funding most of the cost of operation. This public funding translates into lower tuition rates at public universities, especially for in-state students whose tax dollars help support costs of operations.
Private colleges and universities, on the other hand, don’t receive any public funding meaning they rely heavily on tuition, private contributions, and donations. This, of course, is reflected in significantly higher tuition rates at private colleges. However, attending a private university doesn’t necessarily have to be a luxury. Private universities and colleges typically have enough funding to offer generous financial aid packages to their students, especially those who demonstrate financial need. In many cases, generous grants and scholarships can make private college tuition costs comparable or even lower than attending a public university.