Schools - public vs private - which is better and why?

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Before my husband and I had children we discussed at length whether our kids would attend private or public schools. He went to mostly private as a child and I went to public. His opinion at the time was that children could not get as good of a quality education in a public school as private. I assured him that is not true and much of it depends on the quality of staff, location, funding, etc. Our children attend public school now partly due to financial reasons (tuition is soooo high around here). We both stay in touch with their teachers and monitor their schooling. Things seem to be going very well and I believe my husband's opinions may be changing. How do you feel about this topic.