This article analyzes by means of a comparison the reform processes promoted by the governments of Chile and Ecuador in the area of access to and funding of higher education. Ecuador has anticipated the implementation of free education in public higher education, while Chile evidences some more recent advances in this area. The pending challenges faced by both systems are centered on agreeing on a long-term vision, obtaining financing to support the necessary reforms, and improving equity of access. Despite the efforts made so far, coverage is insufficient in the lowest income population.