What characterizes private universities?

Private universities are characterized by their status as educational nonprofit organizations that primarily rely on tuition fees and donations for their funding. This model allows them to focus on their educational mission rather than generating profit for shareholders, which is common in for-profit institutions. Since they are not publicly funded like many public universities, private institutions often set their own tuition rates. Donations from alumni and other sources also play a critical role in supporting their operations, programs, scholarships, and facilities.

It is also important to note that most private universities do offer financial aid to students in the form of scholarships, grants, and loans. This assistance can significantly help lower the cost of attendance for students, making education more accessible than it might otherwise be. The reliance on tuition and donations enables these universities to maintain independence in their governance and educational priorities, providing flexibility in terms of academic programs and campus culture.