Private institutions are providing both access and the skills needed for the economy of the 21st century. Public universities increasingly resemble private institutions in funding patterns. In the former Soviet Union and in Central and Eastern Europe, private universities and specialized postsecondary institutions are the fastest-growing part of postsecondary education. Even China and Vietnam, which retain Communist regimes, are encouraging the growth of private postsecondary institutions. The nature and scope of private colleges and universities vary worldwide.
Tuition is nominal, with virtually the whole higher education budget coming from the state.
Private institutions depend largely on tuition, and some, especially in the Philippines, are profit making. The most prestigious universities tend to be public, although a few top schools are private. In the United States, the balance between public and private has gradually shifted so that now 80 percent of students attend public universities and colleges. U.S. private universities are included among the most prestigious and most substantially endowed institutions. Nevertheless, a majority of U.S. private schools remain fully dependent on tuition for survival.