27 January 2008

Phillips Exeter endowment tops $1 billion

Exeter devotes an average of $63,500 annually to house and educate each of its 1,000 students. That is [...] well above even the $36,500 in tuition, room and board Exeter charges those paying full price.

Last year — fueled by gifts from wealthy alumni and its own successful investments — it crossed the $1 billion mark, up from just over $500 million in 2002.

New York Times: At Elite Prep Schools, College-Size Endowments

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