The purpose of this study is to determine individual (private), public and total unit costs of higher education and their components within three universities in Turkey. The sample of the study has consisted of 3330 first grade undergraduate students of Hacettepe, Cumhuriyet and Erciyes universities in 2007-2008 academic year. The data related to individual expenditures of the students were obtained through the administration of the questionnaire to the students in the sample. The data related to public expenditures and foregone earnings and taxes were obtained from official records. The study revealed that almost all students within the scope of the study have spent a significant amount of money (4.475 TL) for the purpose of university entrance preparations compared to the incomes of the households, and in general, the share of the private cost (8.692 TL) is greater than the share of the public cost (6.647 TL) in annual unit cost (15.339 TL).