In the context of higher education's growing significance and the persistence of inequalities in it, the article aims to further develop the understanding of higher education as a public good and to explore its association with social cohesion in a European comparative perspective. It shifts the focus from the content of higher education as a driver of its social contributions towards the role of higher education realisation in a given society as determining its social effects. Two new methodological instruments are developed: an index of higher education as a public good and an index of social cohesion. The analysis draws on data from Eurostat, the EUROSTUDENT Survey VII, and the European Social Survey, Round 10. The results indicate substantial cross-country differences in social cohesion and in the realisation of higher education as a public good. The article identifies a positive association between the realisation of higher education as a public good in a given country and the level of social cohesion there. From the four dimensions of higher education as a public good related to access, participation, completion, and the state's commitment to its development, the strongest relationship is between the state's commitment to its development and social cohesion.