Elite boarding schools are not only highly selective, they're also well funded — some boast endowments even larger than those of prominent colleges.
Business Insider recently published a list of the most elite boarding schools in America. The ranking was based on three metrics weighted equally: endowment, acceptance rate, and average SAT score, primarily using data from BoardingSchoolReview.com, a website that collects information on boarding schools directly from the institutions. Here, we've re-ranked the schools based solely on endowment to determine which are the country's richest.
These funds, raised from generous donors and alumni, support schools' day-to-day operations and help provide financial aid to students. At Phillips Exeter Academy — the No. 1 school on our list with an endowment of $1.15 billion — nearly half of the student body benefits from financial aid.
Behind Exeter, Phillips Academy Andover took the No. 2 spot on the list with an endowment of $1 billion.
Read on to see the rest of the 20 richest boarding schools in America.
Additional reporting by Andy Kiersz.
SEE ALSO: The 50 most elite boarding schools in America
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20. The Hill School
Location: Pottstown, Pennsylvania
Endowment: $153 million
Enrollment:515
The Hill School primes students for "college, careers, and life" through a traditional liberal-arts education, formal dress, a student-written honor code, regular family-style meals, and several signature programs. Nearly 80% of students board at The Hill School, originally founded as "The Family Boarding School" for its pioneering decision to house students and faculty under the same roof to forge connection, communication, and understanding.
19. The Loomis Chaffee School
Location: Windsor, Connecticut
Endowment: $180 million
Enrollment:650
Above all, The Loomis Chaffee School is committed to providing top-notch academics and shaping students into their best selves. To enhance the academic experience, the school offers writing workshops, study-abroad opportunities, guided-research projects, and experiential-learning programs such as internships, volunteer work, and scholarly competitions.
18. St. Andrew's School, Delaware
Location: Middletown, Delaware
Endowment: $195 million
Enrollment:310
Technology is intertwined with the curriculum at St. Andrew's School. Students use blogs to document their progress in physics, musicians send recordings to their instructors for feedback, and teachers keep in touch with their pupils through learning-management software.
St. Andrew's students also gain entrance to elite colleges. New York University, Wesleyan University, and Davidson College topped the list of the most popular choices from the last four years.
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