C# : changing listbox row color?

I am trying to change the background color of some rows in a ListBox. I have two lists that one has names and is displayed in a ListBox. The second list has some similar values as the first List. When clicking a button, I want to search the ListBox and the second List, and change the color of the ListBox for those values that appear in the List. My search in the ListBox is as follows:

for (int i = 0; i < listBox1.Items.Count; i++)
{
    for (int j = 0; j < students.Count; j++)
    {
        if (listBox1.Items[i].ToString().Contains(students[j].ToString()))
        {
        }
    }
}

But I don't know which method to use in order to change the appearance of a ListBox row. Can anybody help me?

**EDIT: **

HI I wrote my code as follows:

private void ListBox1_DrawItem(object sender, DrawItemEventArgs e)
{
    e.DrawBackground();
    Graphics g = e.Graphics;
    Brush myBrush = Brushes.Black;
    Brush myBrush2 = Brushes.Red;
    g.FillRectangle(new SolidBrush(Color.Silver), e.Bounds);
    e.Graphics.DrawString(listBox1.Items[e.Index].ToString(), e.Font, myBrush, e.Bounds, StringFormat.GenericDefault);
    for (int i = 0; i < listBox1.Items.Count; i++)
    {
        for (int j = 0; j < existingStudents.Count; j++)
        {
            if (listBox1.Items[i].ToString().Contains(existingStudents[j]))
            {
                e.Graphics.DrawString(listBox1.Items[i].ToString(),
                e.Font, myBrush2, e.Bounds, StringFormat.GenericDefault);
            }
        }
    }
    e.DrawFocusRectangle();
}

Now it draws my List in the ListBox, but when I click the button first, it shows in red only the students that are in the List and when I click on the ListBox it draws all the elements. I want that i