Should you go to a private university? Pros and cons.

By Sasha Bulatskaya | Published on March 9, 2026

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Are you debating whether to attend a private college? Private universities include names of some of the most recognized institutions, such as Stanford, MIT, Johns Hopkins, and many smaller liberal arts colleges across the country. While these private schools are considered prestigious, they tend to have a higher cost of attendance compared to public schools.

If you’re thinking of going to a private institution for your higher education, let’s examine the pros and cons to help you make an informed choice.

What are the pros and cons of a private university?

The pros: Individual attention, niche programs

Smaller class sizes

Because private universities tend to be more selective in their enrollment criteria, fewer students get in, and those who do enjoy small class sizes. The smaller student-to-faculty ratios allow for more personalized attention and interaction with professors. You have more opportunities to ask questions, get to know your professor, and get help when you need it.

Specialized programs

Some private colleges offer specialized programs that may not be available at public institutions, catering to specific academic interests. If you’re considering a niche college major and are looking for an institution known for academic excellence, a private college could be for you.

Strong alumni networks

You may have heard the phrase, “It’s not what you know, it’s who you know,” when it comes to job hunting. According to Gitnux, applicants referred for a job are hired at a 55% faster rate than those who applied on job sites. Some of your earliest referrals and professional opportunities may come from your alumni network. Private colleges often have strong alumni networks, which can provide valuable networking opportunities with professionals in your field.

Access to more institutional aid

Like public colleges, private colleges offer federal financial aid through the FAFSA to their students. But because of their large endowments, they tend to offer more scholarships and institutional aid to help offset the cost of tuition.

The cons: Higher costs, smaller student body

Higher cost of tuition

One of the most significant drawbacks of private colleges is their higher tuition costs compared to public colleges, which can lead to increased student loan debt. The higher sticker price comes down to private schools not having access to public funding. These universities get their funding from endowments and tuition, driving up the cost for students.

However, don’t let the price tag keep you from applying. Many offer tuition discounts for low-income students, and a number of Ivy League private schools offer free tuition below a certain income threshold.

Less diverse student body

Public universities tend to be larger and have a more diverse student body. Private schools are smaller and could impact your exposure to different perspectives and experiences. If you dream of getting away from home and meeting people from all walks of life, learn more about the student body makeup from the admissions office.

Alternatives to private colleges

Public universities

Public universities often have lower tuition costs, and some renowned state universities offer excellent academic programs on par with famous private institutions. If you’re a state resident, you can get cheaper in-state tuition, and at some public schools, even some out-of-state students can get in-state tuition.

Community college

Starting at a community college can be a cost-effective way to complete general education requirements before transferring to a four-year institution. Another benefit of community college is you can get a quality education for the first two years and sign a transfer agreement with state schools that partner with your college. These agreements guarantee admission as long as you meet the minimum requirements.

How to pay for private colleges

If you’re set on attending a private college, here are some strategies to help you manage the costs:

Financial aid

Private colleges work like any other university when it comes to financial aid. You’ll want to fill out the FAFSA and take advantage of any grants, scholarships, and federal student loans (after you’ve tapped out all free financial aid).

Institutional aid

Because these universities charge higher tuition fees, they have more room in their institutional aid budget. Although these schools have a larger sticker price, they can still be a cost-effective option for lower-income students once they receive all federal and institutional aid. Ask your financial aid office for information about the types of institutional aid your college offers.

Scholarships

Research and apply for scholarships and grants to offset tuition expenses. Many organizations offer financial aid based on academic merit, extracurricular involvement, or demographic factors.

Private student loans

If your financial aid package and scholarships are not enough to cover your costs, a private student loan could help. To find the right private lender, look for a company with a good reputation with its customers and allows you to check interest rates before you apply. Keep in mind that over 90% of undergraduate students need a cosigner for a private student loan. Have a conversation with your parents to find out if they’re willing to cosign and learn how to get a cosigner if they’re unable to do it.

Make the right choice for you

In the end, the decision to attend a small private college is personal and depends on your academic goals, financial situation, and individual preferences. Take the time to weigh the pros and cons, explore alternative options, and create a plan to finance your education effectively.

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About the Author

Sasha Bulatskaya

Sasha is the Senior Manager of Brand and Content at Earnest. She has been writing for ten years and has been focused on educational finance and financial aid for over three. Her passion for mission-driven companies brought her to Earnest in 2020, and she's been helping make student finance more accessible ever since. She strives to demystify personal finance and student loans to help borrowers make the best decisions for their financial situation.