As a result of the political climate changes after the coup of 1954, the society elites decided to create their own private universities, which would have very different ideologies from the ones presented in the University of San Carlos. Basically the new institutions would have capitalist and liberal ideologies while the national university chose Marxism. After heavy lobbying, in 1965 the new ISR tax law exonerated potential private universities from any kind of taxation and state contributions, and in 1966 the Law of Private Universities was approved.