Financial Aid

Socioeconomic diversity has been a characteristic of Phillips Exeter Academy from our founding. It’s built into our ethic—to attract and teach “youth from every quarter”—and it’s crucial to the nature of our community and our classrooms.

In the fall of 2007, Exeter announced that it would offer an Exeter education free to any accepted or current student whose family income is $75,000 or less. This new initiative, in conjunction with the strong middle income financial aid initiative begun in the late 1990s, means that 95 percent of families in the U.S. are at income levels that, depending on their circumstances, would allow them to be eligible for financial aid at Exeter. Read more about this financial aid initiative...

Financial aid is renewable each year the student remains at the Academy. Families are required to furnish information regarding their current financial circumstances each spring so that Exeter can conduct a review and make whatever adjustments are necessitated by changes in circumstances and in tuition. Questions? Please contact Rick Mahoney, director of financial aid.

Eligibility & Need

At Exeter, financial aid is need-based.

This need is established through an analysis of the Parents’ Financial Statement (PFS) by the School and Student Service for Financial Aid, as well as other financial documents.

Eligibility:

  • Financial aid is available primarily to United States and Canadian citizens; limited funds are available to international students.

  • An application for financial aid must be made at the time of application for admission if a family expects to be considered for aid at any time in their child's Exeter career.

Need:

Exeter’s financial aid program is based on the assumption that parents have an obligation to finance their children’s education to the extent they are able.

  • We consider the financial resources of both natural parents, if living, before making any award. If either natural parent remarries, Exeter shall bear in mind the obligations of the parent to his or her new family. If the parent with custody remarries, Exeter considers the resources of the step-parent bearing in mind the obligations of the step-parent to his or her natural children.

  • We have the expectation that each parent in a family will work. When a parent of a financial aid applicant is not working, it will be important for the family to provide a complete explanation of why that is the case. Exeter reserves the right to "impute" an income for a non-working parent in determining a family’s financial need.

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How to Apply for Financial Aid

This year Exeter has allocated nearly $15 million in financial assistance to 506 students and their families. This assistance is need-based.

If you anticipate needing financial aid at any time during your child's career at Exeter, you should apply for aid during the admissions process. We can’t consider requests for financial aid after admissions decisions are made. If your financial situation changes during your child’s tenure at Exeter, you may apply for assistance.

Here are the steps for applying:

  1. When you fill out the Applicant Information Form (AIF), which is the first step in applying for admission, be sure to check the financial aid box on the first page. After November 1, we will mail you information about Exeter's financial assistance program and policies.

  2. Families are encouraged to fill out the Parents' Financial Statement (PFS) online at www.nais.org/financialaid/sss. If you prefer to fill out the paper version of the PFS, please request that form from Exeter's financial aid office (603-777-3637).

  3. Submit the completed PFS to the School and Student Service (SSS) for Financial Aid in Pittsburgh, Pennsylvania (https://sss.ets.org/) by February 2, 2009. Our school code is 5764.

  4. In a divorced or separated family, a separate PFS should be submitted for each household.

  5. Send directly to Exeter a copy of your family's 2007 federal tax return including all supporting schedules, plus W-2 form(s) for 2008 by February 2, 2009. International families must provide comparable tax documentation.

  6. Eventually Exeter will need to receive a copy of your 2008 federal tax return including all supporting schedules in order to make a final award of financial aid. That documentation should be sent to Exeter as soon as it is completed.

  7. An applicant for financial aid is at no disadvantage in the admissions process. The one exception is international student applicants, for whom Exeter has only limited funds.

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