The serious financial troubles facing both private and public colleges suggest that additional public resources will be required to preserve and strengthen the dual system of American higher education. It is generally acknowledged that the achievement of the national goals of access and reasonable choice for all who use and can benefit from postsecondary education will require the full utilization of the resources in both the public and private sectors. The need for a better understanding of the benefits derived from maintaining a dual system of college support and control is suggested. Several arguments for maintaining the private sector are delineated and evaluated, and questions are posed that must be answered if the private sector is to remain an integral and surviving part of American higher education. (LBH)