It's not just Princeton..
Why do private institutions get more government suppott than public institutions?
Princeton Reaps Tax Breaks as State Colleges Beg - Bloomberg.
"Princeton University and the College of New Jersey are schools of roughly the same size located just 12 miles apart, but they could be on different planets.
The world knows Princeton to be a very elite private school, while if anyone thinks of the College of New Jersey at all, it is as the former Trenton State College, a public institution serving a far less upscale population, with a much larger proportion of students receiving some federal or state government aid.
In one vital respect, however, the popular perception of these schools is wrong. A far better case can be made that Princeton is more of a publicly subsidized school than the College of New Jersey, which is proportionately more dependent on private funding.
Federal research grants play a role in paying professor salaries and providing funds for administrative and building overhead, but the major reason for my statement is simple: Princeton’s use of tax exemptions has facilitated its accumulation of vast amounts of wealth, something largely denied to the College of New Jersey and most other so-called state universities."
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