<p>Izzy, unfortunately this year they won't decide who they "must have", then "go to FA and dole out however much money is needed". Them days are over. The FA will be the cream de la cream and the FP will be the rest.</p>
<p>Interesting, that in past history, "Chaos " as we see these days on the markets, allowed the crooks to skulk off with their ill - gotten treasures..the "Chaos " and confusion would cover their trail. These days though..I'm not so sure that we can's see through the smoke and mirrors of the "Chaos" and find the culprits. Computer records don't get affected/effected by that stuff. That is of course if Bernanke cooperates and the Swiss Banks in kind. This is just the tip of the iceberg. We really need to know who was shorting AIG all along don't we ?</p>
<p>To draw everyone's attention to a new thread:
<a href="http://talk.collegeconfidential.com/prep-school-admissions/663177-attention-fa-applicants.html%5B/url%5D">http://talk.collegeconfidential.com/prep-school-admissions/663177-attention-fa-applicants.html</a></p>
<p>In this week's Exonian (the PEA newspaper) it was stated the school will be accepting fewer students who need FA and more students who are able to pay full tuition.</p>
<p>It also stated that because of this, Exeter will be turning away some "very talented students".</p>
<p>[url=<a href="http://www.investopedia.com/terms/c/clawback.asp%5DClawback%5B/url">http://www.investopedia.com/terms/c/clawback.asp]Clawback[/url</a>]</p>
<p>The first definition of Clawback is what comes to mind here.</p>
<p>sarum - the money wasn't "previously given" in the case of applicants for FA for this admissions year.</p>
<p>Sorry, It is pertaining to the comments on the economy. Yesterday it was Bernanke hiding the identity of traders shorting AIG during the taxpayers' bailout, today it's Former KB Home chairman is indicted in alleged backdating scheme. KB</a> Home ex-CEO Bruce Karatz accused of stock option fraud - Los Angeles Times
I believe all this is pertinent to the current Market Impact in Boarding School Endowments.
One option for the attorneys of hard hit endowments is Clawback.</p>
<p>Regarding Exeter's disappointing article, the elephant in the room has been acknowledged.</p>
<p>Exactly, Sarum!</p>
<p>Saint Mark's School(SMS) does not decrease the fiinancial aid budget but increased by 6.5% for next year. That is what we heard from the President, Board of Trustees today by email.</p>
<p>here is the summary:</p>
<p>The value of our endowment was approximately $101 million, a decline of 25% since July 1, 2008. We are modeling future budgets with this endowment information at the forefront of our minds, and our models employ very conservative future endowment projections.</p>
<p>We have received more applications for admission this year than last, indeed more than we have typically seen. The quality of this year's applicant pool is very strong, in every way, and the pool is very diverse. We deeply appreciate the encouragement many of you have provided to prospective students and their parents as they consider our wonderful school. </p>
<p>We have engaged in a comprehensive examination of all school expenses that lie outside of compensation in order to find savings for the current fiscal year and the next fiscal year. We found savings of $100,000 for the remainder of 2008-2009, and we found savings of $546,000 for 2009-2010 representing about 10% of non-fixed operating costs. Anticipating future reduced endowment draw, we found savings that can be sustained, thus preserving the school's financial health for the long haul. Typically, we identified cost-effective ways to maintain the richness of our program, rather than cutting program. For example, we will continue to organize day-long activities for every Form at the beginning of the school year as a way of facilitating friendships and class unity. However, the III, IV, and V Form trips will be closer to campus and avoid fee-based activities. </p>
<p>In the capital arena, we have delayed planned expenditures that can wait, slowing down the replacement cycle of computers, for example. We have also taken a very conservative stance on capital initiatives. We are eager to install two turf fields in order to provide significant benefit to our entire athletic program, and we have made good progress on raising funds for this project. But until we have the entire amount committed, we will not move ahead. </p>
<p>Very sensitive to the strain some families will be experiencing because of the repercussions of the nation's economic problems, we have increased the financial aid budget by 6.5%. </p>
<p>Thinking long term, we are very excited about the potential that moving ahead with a comprehensive master plan will provide to the school, especially with increasing endowment for faculty compensation and financial aid and for renovating the main building and athletic facilities. We are aware, however, that given the current financial environment, these plans will develop more slowly than we had imagined. </p>
<p>In closing, we are keenly aware of the special nature of the school we have in Southborough. Every financial decision is made with an eye toward ensuring that our smart, kind and engaging students continue to have the best possible educational opportunities we can provide.</p>
<p>Whoops, it was the Bernanke hiding the identity's of the guys that own paper on AIG and won't renegotiate!</p>
<p>Yes, the increased financial aid budget by 6.5% for St Marks will be to keep currently attending students there with additional financial aid so they can graduate and not have to drop out. I think that's terrific.</p>
<p>Conserve school lawsuit.</p>
<p>ouch! poor Conserve school.. but then again, poor students and parents.. :(</p>
<p>but wow.. 181 million dollars for 143 students? ..</p>
<p>Interesting article on where our billions of tax dollars that landed with AIG ended up going.</p>
<p>How</a> much of AIG's $173 billion bailout went to European banks? - BloggingStocks</p>
<p>A private elementary school in Waltham, Massachusetts has just announced plans to close:Economy</a> forces Waltham's private Bartlett School to close - The Boston Globe.</p>
<p>The most selective private high school in our area has been running TV commercials to get more students. Not sure how it is working for them. We considered applying if son didn't get into and get the FA for boarding school.</p>
<p>Well if it is running TV advertisements would that not mean the tuition is greater than the cost per student? At Milton/Exeter/Andover (these are the only ones I am for sure) they spend close to double the tuition per student.</p>
<p>Is the disaster at Bartlett related to purely economic factors, or was there ongoing trouble at the school even before the current economic downturn? Were parents not satisfied? Were there complaints about academic issues, unrelated to economic conditions? It just seems intuitive that if you are nearly 50% short on enrollment (56 enrollees versus the expected 98) more than purely economic issues are at play. It also seems that if the underenrollment is related to purely economic factors, the boarding schools are going to be in for a bumpy ride because the same concerns affect them. Any comments? Principalviola?</p>
<p>I agree with pan1956... Even in this downturn I doubt that 50% of students do not go. I am sure a portion, however, are not willing to pay such a premium... I read an article about the private elementary school markets diminishing, while the strive to go to private high schools is increasing.</p>
<p>Principalviola, you never cease to amaze me! You sound more like a parent. So you think that private secondaries are relatively impervious to the downturn. That is, parents are more likely to scrounge the pennies for a secondary than for an elementary?</p>