Education: Brains Plus Something More

On its 200th birthday, Exeter is still excelling

It looks like a small college. And with its 93 buildings, its $47 million endowment and its 108,000-volume library, the institution on tree-lined Front Street in rural Exeter, N.H., is better equipped and endowed than many colleges. But Phillips Exeter Academy, which celebrates its 200th birthday this year, is only a prep school —though perhaps the best in the country. Its list of illustrious alumni is imposing. Among them: Arthur Schlesinger Jr., Jay Rockefeller, Robert Benchley, Daniel Webster and Franklin Pierce. Equally imposing are...

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