From my own perspective, it seems like Exeter has a lot more to boast than Andover does- really big library, good academics, more classes, more study abroad opportunities- which makes me wonder if Andover has anything that particularly stands out?
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you’re absolutely incorrect. The two are very similar in terms of facilities and opportunity.
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Some of PA’s sports teams are stronger. Many people like the bigger Andover than smaller Exeter town center. Also closer to Boston.
Some like the fact that PA has no Saturday classes. Some say overall coursework is a tiny little easier at PA but obviously varies by person.
PA has 2 art museums vs Exeter’s 1
PA ranked higher most of the times in the last 5-10 years.
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It’s all personal perception and fit. Even if your premise is true, and I don’t think it is, asking which of these top schools has less going for it is like asking which of Kris Jenner’s daughters is poorest. 
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Some people, including my family, chose against Exeter partly because we were concerned about a Harkness-only approach to mathematics instruction, combined with our perception that the school was very intense and produced more kids than in other schools who were very “pointy” in one area, but not so well-adjusted and developed overall. On the other hand, we much preferred the course options at Exeter as compared with those of Andover, a faculty-driven school where much of the course catalog in the Humanities caters to interests we considered to be narrow and idiosyncratic. One factor in Exeter’s favor was the music department, which, at least within traditional classical music, seemed much better than Andover’s. In the end, we didn’t choose either school.
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If I remember correctly, PEA no longer does either.
Anyways, whichever school accepts you has far more to offer than any of the others. If you get into both schools, go visit both campuses and see which one you like more—the “vibe” is far more important than any stats, course catalogs, or libraries could ever be.
There’s still Saturday classes, about once a month.
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Nothing.
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The Venn diagram for these two schools is far, far closer to a single circle than anything else.
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Two hockey rinks
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To state the obvious: Different locations. May be a factor to some, but not to others.
Personally,I loved both locations, but did prefer one location over the other.
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Exeter’s endowment is 1.3B (source from June 2020).
Andover’s is 1.1B (source from 2021).
200M is a huge difference.
Thacher, Taft, Cranbrook, Loomis, Episcopal, Mercersburg, and Hill have endowments in the 200M something range or lower.
After Phillip’s, closest one is in the 600M range (St Paul).
Obviously endowments don’t have a direct influence on kiddos, but they are a real thing.
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Kim Kardashian’s net worth is $1B (Forbes)
Kylie Jenner’s net worth is $900M (NY Post )
At that level, 100M is akin to a pimple on an elephant’s butt.
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Net worth and endowments are completely different animals. I’ll take an endowment any day over a bogus net worth.
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Endowments, like personal net worth, fluctuate at the mercy of the markets. Exeter’s endowment took a big hit during the 2008 financial crisis and Exeter stopped beinng need-blind as a result (and Andover didn’t).
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Do you have a reference link with that claim? I would enjoy reading it. I believe everyone, including all endowments took a hit in 2008. Noone was immune except those who were invested in the ponzi scheme by BM. When Bear Sterns disappears, Lehman Brothers collapses, AIG goes to $2, auto industry requires a bailout, etc I doubt Andover’s endowment was in the green.
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I did a search online. According to NYT, Exeter lost 22% in 2008. According to the Phillipian, Andover lost 23% that year. If you invest primarily in public markets, there weren’t many places to hide.
Exeter did put in budget restraints that year. I doubt Andover did nothing. Probably cutting expenses a little bit less than Exeter in fin aid. It may also have something to do with the restrictions on certain endowments. That affects what the schools can do.
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Both schools have 2 rinks
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You’re right. Love Gymnasium has two rinks…I stand corrected
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Frequent trains into Boston 
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