The final results of the exams have been posted. Anne is walking with Jane, who is smiling because exams are over and she is sure she has at least passed them. Jane is content with this realization; her goals are very simple. Anne, who has greater ambitions, feels more agitated. She wants to have done well enough to win a prize or scholarship.

Anne is particularly hoping to win the Avery Scholarship, which everyone expects a student named Emily Clay to win. Anne is so sure she has not won that she tells Jane she is not going to the bulletin board where the winners are listed. Instead, Anne asks that Jane read the list and then come find her and report the results. If Anne has failed to win, Jane must tell her so without sympathy or pause. Jane agrees to do this. However, as they approach the school building, they hear students shouting, “Three cheers for Miss Shirley, winner of the Avery!” Suddenly Anne finds herself surrounded by students congratulating her. Jane shouts out how proud she is for Anne. All Anne can think of is how proud Matthew will be of her.

Marilla and Matthew travel to Charlottetown for the commencement ceremonies. They are both teary eyed as they sit in the audience and listen to Anne deliver a prize-winning essay she has written and watch her receive her scholarship. Matthew teases his sister by asking if she is glad they kept Anne. Marilla answers that this is not the first time she is glad Anne is a part of their lives. Aunt Josephine, who is sitting behind Matthew and Marilla, also praises Anne.

Later that night, Anne rides home with Matthew and Marilla. She has not been home since April and cannot wait another day to get there. Diana is at Green Gables to welcome and congratulate her friend. Anne immediately tells Diana how good it is to see her as well as to see Green Gables’ blessed landscape. Diana mentions teaching to Anne, but Anne says her teaching will have to wait because she will be going to Redmond College in the fall. Jane and Ruby will be teaching, though, Anne tells Diana. She also informs Anne that Gilbert will also work as a teacher in September. Gilbert will have to earn his own way through college because his family is unable to pay for it. He will probably be the teacher at Avonlea. Upon hearing this, Anne is disappointed. She had thought Gilbert would be going with her to Redmond.

The next day, Anne notices physical changes in Matthew, and she asks Marilla how Matthew is doing. Marilla tells Anne that Matthew has not been feeling very well recently. They have hired help, though, and Marilla hopes Matthew will get more rest. Anne also notices that Marilla looks more strained than usual. Marilla confesses that her headaches are getting worse. She is also worried about their finances. Rumors are spreading that the bank in which they have invested their savings is having business problems.

When Anne goes out into the fields, she finds Matthew and tells him he should take some time off. She then mentions the boy Matthew had wanted when the orphanage made the mistake and delivered her. Matthew tells Anne he is glad he has had her—she is better than any dozen of boys would have been.