Phillips Exeter Academy is a prestigious boarding school located in Exeter, New Hampshire. The academy is known for its rigorous academic programs, extensive extracurricular activities, and impressive alumni network.
However, attending Phillips Exeter Academy comes with a significant price tag, and many families are left wondering how they can afford the tuition.
According to the academy’s website, the cost of tuition for the 2022-2023 academic year is $61,121 for students who live on campus. For day students who choose to live at home and commute to school, tuition is significantly cheaper at $47,739. Despite the high cost of attendance, Phillips Exeter Academy is committed to making education accessible to all qualified students, regardless of their financial background.
The academy offers a robust financial aid program that provides assistance to families who demonstrate need. As of 2024, the academy has awarded over $25 million in assistance in the form of outright grants, with no loans to pay back. This financial aid package has made it possible for many students to attend Phillips Exeter Academy who otherwise would not have been able to afford it.
Tuition Overview
Phillips Exeter Academy is a prestigious private school located in Exeter, New Hampshire. The school is known for its rigorous academic program, diverse student body, and extensive extracurricular offerings. However, attending Phillips Exeter Academy comes with a significant cost.
For the 2022-2023 academic year, the cost of tuition for students living on campus is $61,121. This cost includes room and board, as well as other fees such as textbooks and supplies. For day students who do not live on campus, the cost of tuition is $47,739.
Despite the high cost, Phillips Exeter Academy offers a generous financial aid program. The school awards over $25 million in financial assistance each year, with all aid given as outright grants that do not need to be repaid. This aid is available to both domestic and international students and is awarded based on financial need.
To help families manage the cost of tuition, Phillips Exeter Academy offers several payment options. Families can choose to pay tuition in two installments, with half due on July 1 and the remainder due on November 1. Alternatively, families can enroll in a ten-month payment plan, with payments due each month from May 15 to February 15. The school also offers a loan program through LendingClub Bank called Your Tuition Solution.
Overall, attending Phillips Exeter Academy is a significant financial investment. However, the school’s commitment to providing financial aid and flexible payment options can make attending the school a possibility for families who might not otherwise be able to afford it.
Financial Aid Options
Phillips Exeter Academy is committed to making education accessible to all students, regardless of their financial background. They offer several financial aid options to help students and families afford tuition costs.
Need-Based Scholarships
Phillips Exeter Academy offers need-based scholarships to students who demonstrate financial need. The school uses a comprehensive evaluation process that considers a family’s income, assets, and other financial factors when determining eligibility for financial aid. Families whose gross household income is $75,000 or less attend Exeter for free, receiving $64,789 in financial aid.
Merit-Based Awards
Phillips Exeter Academy also offers merit-based awards to students who demonstrate exceptional academic or extracurricular achievements. These awards are typically given to students who have demonstrated excellence in areas such as athletics, music, or community service. The amount of these awards varies depending on the individual student’s achievements.
Payment Plans
Phillips Exeter Academy offers interest-free payment plans to parents who cannot pay the full tuition by July 1. The payment plans allow parents to pay tuition and fees in two installments. Half of the tuition and fees are due on July 1, and the remainder is due on November 1. Parents can also choose to pay tuition and fees in monthly installments throughout the school year.
Phillips Exeter Academy provides several financial aid options to help students and families afford tuition costs. The school’s commitment to making education accessible to all students is evident in its comprehensive evaluation process and the financial aid packages it offers.
Tuition Costs by Program
Day Students
For the 2022-2023 academic year at Phillips Exeter Academy, day students can expect to pay a tuition fee of $47,739. This fee includes the cost of attending classes at the school but does not cover the cost of room and board. The tuition fee for day students is significantly lower than that of boarding students, making it a more affordable option for families who live near the school.
Boarding Students
Boarding students at Phillips Exeter Academy can expect to pay a tuition fee of $61,121 for the 2022-2023 academic year. This fee includes the cost of attending classes as well as room and board. The school offers several payment options for boarding students, including two payments due on July 1 and November 1, and ten monthly payments due between May 15 and February 15. Payment plan enrollment begins in early May after tuition statements are available online.
It is important to note that Phillips Exeter Academy offers financial aid packages to families who qualify. The school has awarded over $25 million in assistance as outright grants, with no loans or payback required. The financial aid package includes non-tuition support of over $1 million, making it possible for families who might not otherwise be able to afford the cost of tuition to send their children to the school.
Overall, while the cost of tuition at Phillips Exeter Academy may be higher than that of other schools, the school offers a top-tier education and a range of resources and opportunities for students.