This past Wednesday was “End of Tuition Day,” the day when tuition payments would theoretically run out if the budget relied solely on tuition for revenue for all 1,143 students at Andover. Andover’s Annual Fund, comprised of donations from alumni, current and past parents and the endowment, will support each student’s education for the rest of the year, said Head of School John Palfrey at the first All School Meeting of Spring Term. The cost to educate one student is $57,563, although the average tuition paid by all students is $42,000, wrote Jennifer Hout, Assistant Director of Alumni Affairs, in an e-mail to The Phillipian. On average students cover around 73 percent of their expenses, and the endowment covers $2,682 per student, according to Hout. This is due to the fact that the school is only allowed to draw between four to six percent from the endowment annually. The remaining $9,381 is paid through the Annual Fund, which serves Andover’s day-to-day budget. Paresky Commons baked a cake in honor of the celebration, and students signed thank you cards to the donors that make their Andover educations possible.
