Public and private higher education share many of the same problems. The private sector, however, is especially vulnerable to certain pressures because tuition is a primary source of its revenue. In this report, several important functional aspects are considered for their bearing on academic purposes or roles: special roles such as church affiliation, academic resources, faculty credentials and characteristics, financial resources), differences in student clientele (academic and socioeconomic background, aspirations, sources of support), and differences in academic character (program emphasis, research orientation, orientation toward students). Throughout, a major purpose has been to point out the aspects of academic character on which public and private institutions differ. Descriptive profiles of eight types of institutions offer a quick summary of important differences. (Author/MSE)