Since 1989, Mongolian higher education has undergone a phenomenal privatization. Part of this involves private finance and governance for the public institutions. The other part involves an extraordinary proliferation of private institutions, to over 200 in just a decade. Prior to 1989 higher education consisted of only a handful of institutions, all public. Much of the impetus for the private proliferation comes from the overall marketization of the economy as well as the increased proportion of secondary-school graduates who head to higher education. Typical private institutions are small and poorly funded.