Phillips Exeter Academy: Tuition Fees and Financial Aid

Phillips Exeter Academy, a top-ranked New Hampshire school, has a long-standing tradition of academic excellence and a commitment to making education accessible to talented students, regardless of their financial background. Founded over two centuries ago, the academy seeks students who demonstrate academic ability, intellectual curiosity, tenacity, decency, and good character. The school's mission, as defined by founder John Phillips, prioritizes the development of both knowledge and character in its students.

Overview of Phillips Exeter Academy

Phillips Exeter Academy is an independent, co-educational, college-preparatory school located in Exeter, New Hampshire. The school serves students in grades 9-12 and offers a post-graduate year. With a student body of approximately 1,106 students, Exeter provides a diverse and intellectually stimulating environment. The academy's commitment to diversity extends to its student body, which includes students from across the United States and over 30 foreign countries.

Key features of Phillips Exeter Academy include:

Grades: 9-12, PG
Enrollment: Approximately 1,106 students
School Type: Alternative School
Campus Size: 700 acres
College Preparatory: Yes
Religious Affiliation: Non-denominational
Average Class Size: 12 students
Student-Teacher Ratio: 5:1
Classroom Dress Code: Casual
Acceptance Rate: 17-18%
Application Deadline: January 15

The heart of Exeter is its signature Harkness method of instruction. The Harkness philosophy, developed at Exeter over 80 years ago, is centered on a way of thinking and engaging with others that requires preparation and provides a sense of readiness for learning, for college, for life. Exeter is a school for teenagers who want to be surrounded by peers who share their intellectual curiosity and raw excitement about learning. The school is alive with learning: spirited conversations spill out of classrooms and make their way to the playing fields, theater stages, laboratories, the dining halls and the dorms. Students are given the freedom to explore and know their intellect, to challenge themselves in new ways, and enjoy the richness of human interaction.

Understanding Tuition and Associated Costs

The cost of attending Phillips Exeter Academy is a significant investment. For the 2023-2024 academic year, the yearly tuition is:

Boarding Students: \$69,537
Day Students: \$54,312

This figure covers tuition, room and board (for boarding students), and meals at the dining halls.

In addition to tuition, families should budget for other mandatory fees and expected expenses, including:

Technology Fee: Approximately \$850
Health and Wellness Fee: Varies based on coverage selection
Books and Supplies: \$1,000 - \$1,500
Travel: Varies significantly based on home location
Personal Expenses: Allowances for laundry, school events, and personal items

Phillips Exeter Academy's Commitment to Financial Aid

Phillips Exeter Academy is committed to making its education accessible to talented students regardless of their family's financial circumstances. The Academy provides need-based financial aid to make tuition affordable. The school's financial aid program is a cornerstone of its commitment to diversity and inclusion.

Need-Blind Admission Policy

Admissions are need-blind. This means that the admissions committee evaluates an applicant's file without any knowledge of their family's ability to pay. The decision to admit a student is based solely on their academic achievement, character, talents, and potential to contribute to the Exeter community.

Meeting 100% of Demonstrated Need

Once a student is admitted, Exeter promises to meet 100% of the family's demonstrated financial need. The Academy does not offer merit-based scholarships; all financial aid is awarded based on need. This commitment is substantial and made possible by one of the largest endowments of any secondary school in the world.

Read also: Exeter Learning Opportunities

Key Facts About Exeter's Financial Aid Program

Nearly half of the student body at Exeter receives financial aid.
The average grant for the previous academic year was over \$58,000.
All grants are awarded outright, with no requirement for repayment.
An Exeter education is free to any accepted student whose family income is \$125,000 or less.

Determining Financial Need

Exeter's financial aid process is designed to be thorough and equitable. The school uses a third-party service called Clarity to process financial aid applications. This platform provides a standardized and secure way for families to report their financial information.

The Financial Aid Office conducts a detailed, individualized review of each family’s circumstances, considering factors such as:

Total family income from all sources
Family assets (home equity, savings, investments)
Family size and number of dependents
The number of children currently attending tuition-charging schools or colleges

This confidential review allows the office to determine a family's "demonstrated need"-the difference between the total cost of attendance and what the family is reasonably expected to contribute.

Financial Aid Examples

To provide clarity, Exeter has established a straightforward guideline: Families with a total annual income of \$125,000 or less will typically have their children attend Exeter for free, covering tuition, fees, and even providing funds for books and travel. For families above this threshold, financial aid grants are calculated on a sliding scale.

Scenario 1: A family with an income of \$150,000 might be expected to contribute between \$15,000 and \$20,000. Exeter’s financial aid grant would cover the remaining \$50,000+ of the cost.
Scenario 2: A family with an income of \$250,000 with significant home equity, investments, and two children in college could still qualify for a substantial grant, potentially in the range of \$20,000 to \$30,000.

Applying for Financial Aid

The single most important message from Phillips Exeter is clear: do not let the published tuition deter you from applying.

Next Steps in the Application Process

Inquire: Contact the admissions office to express interest and learn more about the school.
Apply: Submit an application for admission, highlighting the student's academic achievements, character, and potential.
Apply for Financial Aid: Complete the Clarity application to determine demonstrated need.

A Look at Phillips Exeter Academy's History

Phillips Exeter Academy was established in 1781 by John and Elizabeth Phillips. John Phillips, a Harvard College graduate, made his fortune as a merchant and banker and became an influential figure in Exeter. He also financially supported his nephew, Samuel Phillips Jr., in founding Phillips Academy in Andover, Massachusetts, in 1778.

Early Years and Evolution

The academy's first schoolhouse was built in 1783. Over the years, Exeter has evolved, adapting to changing educational needs and societal norms.

Key Historical Developments

Early 1800s: The academy focused on college preparation.
Late 1800s: A brief shift towards general education occurred before academic standards were restored.
Early 1900s: Exeter solidified its mission as a college-preparatory school.
Mid-1900s: Principal Lewis Perry improved student life, expanded access for underrepresented students, and built a more cohesive student body.
Late 1900s: Exeter became coeducational in 1970 and appointed its first female principal in 1987.

The Harkness Method

In 1930, philanthropist Edward Harkness proposed a new way of teaching and learning, which led to the development of the Harkness method. This method involves a classroom where students sit around a table with a teacher who facilitates discussion and encourages student participation. The Harkness method remains a signature feature of Exeter's educational approach.

Recent History and Developments

In recent years, Phillips Exeter Academy has continued to evolve and adapt to the changing needs of its students and the world. The academy has focused on promoting diversity and inclusion, enhancing its academic programs, and providing a supportive and enriching environment for its students.

Campus and Facilities

Phillips Exeter Academy boasts a beautiful and historic campus with state-of-the-art facilities.

Key Buildings and Facilities

The Academy Building: The fourth such building, constructed in 1914, serves as a central hub for academic activities.
Mayer Art Center: Houses the Art Department and the Lamont Gallery, providing spaces for ceramics, printmaking, drawing, painting, and architectural design.
Elizabeth Phillips Academy Center (EPAC): Serves as the academy's student center, with a student commons, post office, day student lounge, academic support center, student grill, and auditorium.
Phillips Hall: Houses the English and Modern Languages departments.
Phelps Science Center: Features science laboratories and classrooms.
The William G. Phillips Church: A space for students of many faiths, including a Hindu shrine, a Muslim prayer room, a kosher kitchen, and a meditation room.
Nathaniel Gilman House: Houses the academy's Alumni and Alumnae Affairs and Development Office.
The Davis Center: Houses financial aid offices.

Athletics

Exeter offers 65 interscholastic sports teams at the varsity and junior varsity level, 27 intramural sports teams, and various fitness classes. The academy has a strong athletic tradition and has produced numerous elite athletes.

Extracurricular Activities

The academy has over 100 clubs listed. The Exonian is the school's weekly newspaper and the oldest continuously running preparatory school newspaper in the United States.

Student Life

Close to 80% of students live in the dormitories, with the other 20% commuting from homes within a 30-mile (48 km) radius. Each residence hall has several faculty members and senior student proctors. Religious life on campus is supported by the Religious Services Department.

Notable Alumni

Phillips Exeter Academy has a long list of distinguished alumni who have made significant contributions in various fields.

Prominent Alumni

Government and Politics: Daniel Webster, Franklin Pierce, Judd Gregg, John Negroponte
Business and Technology: Mark Zuckerberg
Arts and Literature: John Knowles, John Irving, Booth Tarkington
Military Service: George Bancroft, Benjamin Butler

tags: #phillip #exeter #academy #tuition #fees #financial