News Details (Posted: December 6, 2007):

News from Phillips Exeter Academy

Full Description:

The Academy's trustees unanimously voted to offer an Exeter education free to any accepted or current student whose family income is $75,000 or less. Thus, beginning in the 2008–2009 academic year, qualified students from nearly two-thirds of the families in the United States could enjoy a free Exeter education.

This financial aid package will include not only free tuition and room and board, but also a range of other expenses. Books, academic supplies, linen, health and technology fees, and a computer will be covered.

The educational gap between the 'haves' and 'have nots' continues to widen in this country and in the world. We want to be clear that money does not stand in the way of an Exeter education. Students who qualify academically will find Exeter affordable. Our efforts in this important area will continue. This move, in conjunction with the strong middle-income financial aid initiative begun in the late 1990s, means that 95 percent of families in the United States are at income levels that, depending on their circumstances, could allow them to be eligible for financial aid at Exeter.

Currently, the Academy's endowment and other non-tuition sources cover half the cost of an Exeter education, even for students whose parents pay full tuition. Exeter's ability to support all of our students is a result of the growth of our endowment as well as our fundraising success. The effects of these efforts will be felt over time. As our resources have increased, the school has taken positive steps to ensure that Exeter remains an educational opportunity for academically qualified students from all backgrounds, regardless of their financial means. At this historic moment, I would like to underscore the fundamental strength that has brought the Academy this good fortune. That soundness grows from the vision in our Deed of Gift, but it is most tangibly defined by what occurs among the students and teachers in Academy classrooms and dormitories, and on the playing fields and paths.

I look on the good fortune of this news as a reflection of the trust that this institution has earned through generations of good teaching, honest caring and hard work. I am pleased that your family has shown your trust in Exeter by allowing us to educate your child. To help families make a decision about an Exeter education, the school has posted a page to its website, http://www.exeter.edu/admissions/147_351.aspx , which will allow families to see current family contributions at various income levels and family sizes, and estimate what an Exeter education might cost. For further information, please visit our website, http://www.exeter.edu/admissions/147_351.aspx , or contact Rick Mahoney, Exeter's director of financial aid at (603) 777-3434 or pmahoney@exeter.edu . Also check out the main page at www.exeter.edu