Why the name academy?

The word academy comes from the Greek word Akademeia, the name of the park or grove outside of ancient Athens where the philosopher Plato taught his students. Just as schools and parks today are often named after famous persons, the Akademeia had been named in honor of a Greek hero, Akademos. Academus (translation in latin), refers to a site sacred to Athena, the goddess of wisdom. It makes sense to use the word academy to describe the world of higher learning, although we know such a name is more related to fancy facilities when not just a random tennis school.