US Private School Endowments

The New York Times has an article about the huge endowments that some older American private schools now have. The article mainly focuses on Phillips Exeter Academy in Exeter, New Hampshire. The school, which has a thousand students, now has over US$ 1 billion in its endowment fund.

With its small classes, computers for students receiving financial aid, lavish sports facilities and more, Exeter devotes an average of $63,500 annually to house and educate each of its 1,000 students. That is far more than the Thomas family could ever afford and well above even the $36,500 in tuition, room and board Exeter charges those paying full price.