History
What is now the Peddie School was founded as an American Baptist school, The Hightstown Female Seminary, in 1864. Later that year, boys were admitted and it changed its name for the first time. In 1872, it became the Peddie School in honor of philanthropist and politician Thomas B. Peddie, who gave the school $25,000.
Peddie remained coeducational until 1908, when, for social and economic reasons, it decided to admit boys only. This was reversed in the early 1970s, and girls were readmitted. Today, the school is coeducational and non-denominational.
In 1993, former Ambassador Walter Annenberg (Class of 1927) gave $100 million to Peddie, the largest donation ever made to a U.S. secondary school at the time.
While previous generous gifts by Annenberg helped the school build a library, dormitories, an athletic center, and a science center, the legendary gift of $100 million was made to see Peddie become accessible to all. This endowment was not earmarked for new buildings, but for financial aid. The endowment has enabled students from all backgrounds to pursue a course of study that would have been unattainable otherwise. Today, about 40% of Peddie students receive financial aid.
At April 2007, Boarding School Review reported that the school has an endowment of over US$300 million, one of the largest among preparatory schools in the United States.
Read more about this topic: Peddie School
Famous quotes containing the word history:
“History ... is, indeed, little more than the register of the crimes, follies, and misfortunes of mankind.
But what experience and history teach is this—that peoples and governments have never learned anything from history, or acted on principles deduced from it.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“Classes struggle, some classes triumph, others are eliminated. Such is history; such is the history of civilization for thousands of years.”
—Mao Zedong (1893–1976)
“The history of the world is none other than the progress of the consciousness of freedom.”
—Georg Wilhelm Friedrich Hegel (1770–1831)