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Public vs Private Colleges

To understand the specifics of public and private colleges, let's compare them in accordance with different options.

Private colleges (usually, elite, well-known universities) are more expensive than public colleges offering thousands of dollars. However, in fact it is not always. In some cases the out-of-state tuition for a public university can be even higher than the standard tuition at a private college.

We should also compare college funding. Public colleges are funded by the government of the state where they are located. Therefore, such institutions offer a lower tuition for students who are residents of that state.
Private colleges are not supplied with government money and provide one tuition (excluding financial aid and scholarships) for everyone.

Name recognition
That college probably has plenty of merits, but name-recognition isn’t one of them. Because everyone knows about Harvard and Yale, and there exist people who heard about a school in rural Kansas with a student population of 500.  

Which college is better: public or private?
It is only your decision and depends only on you, because various college types provide their own unique environment, their especial services and opportunities.