<p>The letter to grads:</p>
<p>Dear Exonians,</p>
<p>We are writing to you with wonderful news from Exeter!</p>
<p>“The Academy shall ever be equally open,” Exeter’s founding documents proclaim, “to youth of requisite qualification from every quarter.”</p>
<p>For generations, Exonians have valued and guarded this principle. It has been fundamental to our understanding of meritocracy and the Harkness table, where each student’s intellectual contributions are more important than family background or financial standing.</p>
<p>On November 7, 2007, Exeter’s promise to be “equally open” took on new meaning when the Academy trustees announced that an Exeter education will be free to all qualified, admitted students whose families earn $75,000 or less annually. Tuition, room and board, fees, even the cost of a computer are covered under the plan. As was announced three years ago, Exeter has also been able to eliminate loans, replacing them with outright grants.</p>
<p>These measures, in conjunction with other Academy financial aid programs, mean that 95 percent of families in the United States are at income levels that, depending on their circumstances, could allow them to be eligible for financial aid at Exeter.</p>
<p>We are honored and elated to be making this historic announcement. We want this news to reach as many prospective students as possible–across the country and around the world-- and we seek your help in spreading the word.</p>
<p>As talented young people come into your life, we hope you will consider telling them about this new initiative at Exeter. Exeter runs the risk of becoming irrelevant if it does not continue to attract students from across the economic spectrum, who are the most capable, curious and passionate students around. By providing access to any qualified student in the country who is admitted to the Academy, whatever their family circumstances, we want to ensure that Exeter never falls short of its democratic ideals.</p>
<p>At this landmark moment, we want to thank the thousands of alumni/ae who, as students, shaped Exeter’s history, who over the years have given time and gifts to the school, and who believe so strongly now in Exeter’s mission and character. You are an integral part of this historic decision.</p>
<p>We are especially grateful for your extraordinary support of The Exeter Initiatives campaign. Thanks to all of you, the fundraising effort recently crossed its initial dollar goal of $305 million roughly 20 months ahead of schedule. It has been incredibly rewarding to watch this campaign help implement life-changing programs like the one we announce today. This campaign is always first and foremost about Exeter’s educational agenda. We are deeply grateful to you for bringing us this far, and for your continued support as we work to meet the remaining goals between now and June 30, 2009.</p>
<p>Because of the strength you give the Academy, we are able to make this financial aid commitment today to students and families. Please feel free to direct interested students or parents to a new page on our website ([Phillips</a> Exeter Academy | Can I Get Financial Aid?](<a href=“http://www.exeter.edu/financialaid]Phillips”>Admissions & Financial Aid | Phillips Exeter Academy) ) where they can review current family contributions at various income levels and family sizes, and estimate what an Exeter education might cost. </p>
<p>Thank you for your faith in Exeter, and please help us spread the word!</p>
<p>Charles T. Harris III '69
President of the Academy trustees</p>
<p>Tyler C. Tingley '48, '64, '01 (Hon.); P’99
Principal of the Academy</p>