Exeter is not need-blind. Andover and St. Andrews School (DE) are the only need blind institutions I believe.
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Students who apply for financial aid may be in a more competitive situation for admission to Exeter.
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Source:
http://www.exeter.edu/documents/Appl...structions.pdf Quote:
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Andover admits outstanding students regardless of their families' ability to pay the cost of an Andover education. We are proud to say that we meet 100 percent of each admitted student's demonstrated financial need. Through our need-blind admission initiative, we encourage all qualified applicants to consider Andover, regardless of whether they can afford the full cost of attendance. Upon admission, applicants can be confident that their financial need, as determined by Andover's financial aid office, will be met.
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Source:
Phillips Academy - Access & Affordability Quote:
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Since our founding, one of the hallmarks of St. Andrew's School has been our deep commitment to providing an exemplary educational opportunity to students regardless of their financial means. At a time when many boarding schools have become accessible only to the affluent in America, St. Andrew's commitment to need-blind admissions and socioeconomic diversity within the School enables us to develop a truly distinctive student body and School culture.
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Source:
St. Andrew's School: Admission » Tuition & Financial Aid
Edit: SevenDad beat me to it!