Bolton School raised over £1m towards bursaries and hardship funding during the last academic year.
A delighted and proud Head of Foundation, Philip Britton, said: "It is an outstanding total in any year, but particularly so given the challenges that the Covid-19 pandemic has presented.
"The support from our donors has made a real difference, allowing us to continue to expand access to the School.
"Last summer, 49 pupils from the Class of 2021 left having received bursarial assistance for their education.
"Fifty-three per cent of them achieved A*-A grades. Thirty-seven went on to university, 25 of whom secured places on courses at prestigious Russell Group institutions."
He continued: "We are determined to be as inclusive as possible at Bolton School.
"That starts with a strong focus on ensuring that the fee rises are as low as possible.
"Since 2016 the fee rise has been 2% per year, which is lower than the average cost of living over that time."
Last year Bolton School was a finalist in the Social Mobility Awards.
Its governors have a long-standing ambition that the Bursary Fund will be in a position to provide financial support for one in three pupils in the Boys’ and Girls’ Divisions by 2030, replicating the provision enjoyed at the peak of the Direct Grant scheme.
Commenting further, Philip Britton said: "Our desire to drive social mobility has been fundamental to our ethos since our re-foundation in 1915 by Lord Leverhulme.
"We know that, for many of our donors, their support for the Bursary Fund is a recognition of the foundation the School provided for their success in later life.
"Through their generosity, they enable us to ensure that the ladder of social mobility remains in good repair for the next generation of Boltonians, expanding their ambitions in the same way that a Direct Grant or Assisted Place did for those who went before them."
He continued: "This academic year we have spent £3.06m on means-tested bursary assistance and hardship grants, supporting 346 – one in five - pupils across our two Senior Schools.
"Twenty per cent of those received full-fee remission, equating to 4% of all Senior School pupils.
"That we have continued to thrive throughout the pandemic is credit to the strength and commitment of our community and we are grateful to all those who have so generously volunteered to give their time, insights and energies to support the Foundation and its pupils during the past academic year."