The perceived dichotomy between public or private benefits to higher education remains of growing interest in higher education research and policy. In this paper, I borrow from the African philosophy of "Ubuntu" as a conceptual lens to interrogate this binary within the South African context using the 'black tax' phenomenon. Gleaning secondary evidence from online sources, I posit that while black tax is being misused and abused by some beneficiaries, the experiences of majority of black professional graduates within their nuclear and extended families suggest a public good value of higher education beyond the suggested private benefit of earnings and social mobility. I argue using core components of 'Ubuntu' that understanding the benefits of higher education in a context such as South Africa demands a nuance approach beyond the current dichotomy. I conclude that black tax blurs the lines and serves a public good function within a private good.