The equity effects of public subsidization of private schools in Cote d'Ivoire are analyzed. The subsidy per student in private (and public) schools increases as one goes to higher household per capita expenditure groups. Students from families in the highest expenditure quartile receive twice the subsidy received by students from families in the lowest quartile, compared to four times more in the case of students attending public schools. However, the subsidy system is relatively progressive in the case of private school attendance as there is a clear tendency for the share of family education expenditure covered by subsidies to decline as one goes to higher quartiles. (Contains 4 tables.)