Private also means unsubsidized, which I think is what he was getting at. The public school I went to I think suffered from this, and my tuition grew excessively in the time I was there. The public funding wasn't enough to sustain the school's budget. I only paid for some of my last two years (parents still covered room and board), but I'm still about 20k in debt.
Plus, due to the accrued interest I owe more right now than I did when I graduated two years ago (iirc). I haven't gotten to the point where I owe less money yet. I have barely touched the principle on two of the loans. It's disturbing. I'm considering moving back in with my parents so I can straight up pay off my loans, because the amount these banks are making in interest on me over 10 years is absurd, even at around 6%. I did the calculations and about 1/3rd of all the money I'll have paid is towards interest, iirc.
imo, the government should be the lone source of student financing for non-profit institutions, and the interest rate should be kept as to match inflation, and nothing more.