Satisfying students in higher education has proven to be a difficult task, although universities are striving to meet student needs and expectations. Private universities are trying to become more student-oriented and are seeking to understand students' perceptions of higher education facilities. This research was designed to measure the gap between students' expectations and perceptions of various aspects of private universities in Bangladesh. It uses a SERVQUAL framework and the Gaps Model of Service Quality. The population of students at private universities in Bangladesh is represented by a sample of 412 respondents from five top-tier private universities. Findings indicate that the overall service quality of private universities fails to meet student expectations. Students' perceptions are lower than their expectations in every aspect. Students expect more for acceptance of their degree, availability of on-campus jobs, maintenance of a proper study environment, and provision of prompt advising, counseling, and assistance to solve problems. The most expected SERVQUAL dimensions are assurance and empathy, while the dimension most perceived is assurance. The biggest gaps between expectation and perception lie in the dimensions of responsiveness and empathy. The article offers useful information by which to understand students' expectations, perceptions, and the gaps between them, which has several implications for university and government authorities.