A university is an institution of higher education and research, which grants academic degrees in a variety of subjects. A university provides both undergraduate education and postgraduate education. The word “university” is derived from the Latin “universitas magistrorum et scholarium,” roughly meaning “community of teachers and scholars.” Universities are sometimes divided into “public and private.” A public university is a university that is predominantly funded by public means through a national or subnational government, as opposed to private universities. In some regions of the world prominent public institutions are highly influential centres of research. In contrast, a private university generally does not receive direct operational funding from national or subnational governing and thus rely on private sources of funding, such as tuition fees and alumni donations. Depending on the region, private universities may be subject may be subject to government regulation. Tuition fees at private universities tend to be much higher than at public universities.