Four financial models of massification of higher education are discussed in this essay. They are American model, Western European model, Southeast Asian and Latin American model and the transition countries model. The comparison of the four models comes to the conclusion that taking advantage of nongovernmental funding is fundamental to dealing with financial difficulty faced by higher education. As a result, it can be argued that the declining of higher education quality does not necessarily have to do with schooling system. On the contrary, the development of private higher education helps the activation mechanism of competition so as to cultivate talents needed by the society.