WellesleyWeston Magazine

FALL 2015

Launched in 2005, WellesleyWeston Magazine is a quarterly publication tailored to Wellesley and Weston residents and edited to enrich the experience of living in two of Massachusetts' most desirable communities.

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W e l l e s l e y W e s t o n M a g a z i n e | f a l l 2 0 1 5 176 income of $38,500. There are students who work 20 hours a week at jobs to help out, and families who are not necessarily doing poorly but need to be cost conscious. "They're looking for value," she noted. "We have students at the top of the class who choose to go to UMass or to state schools across the country, as well as those who go to the Ivy League. Many institutions offer generous financial aid packages." For example, at Williams College, which costs $61,070 this year, more than half the students receive financial aid, with packages averag- ing $46,714 per year. Still, it may not be enough. "Wellesley High School classes are growing," added Beverly Donovan who succeeded Pedersen as president this summer. "Last fall, there were 341 students in the senior class and 418 in ninth grade. [In recent years] 90 percent of our graduating class goes on to higher edu- cation. We in the community raise expectations high while the costs of education keep increasing." WSF scholarships are funded by an annual campaign and income from the permanent endowment that now exceeds $5 million thanks to its recently ended Campaign for the Future, which raised $240,000. Administrative expenses total 6 percent of the budget, according to Pedersen, which means 94 percent of donations goes directly to the scholarships that are paid directly to the recipients' schools. Approximately 30 percent of donors make gifts either in memory or to honor someone, sometimes establishing named grants. New this year were the Wellesley Toyota Scholarship for $5,000 for a graduating senior, and memorial donations recognizing John Hanlon's 32-year- career in the Wellesley Public Schools. In 2012, the Wellesley Bank "What hasn't changed is that parents want to provide their children with educational oppor- tunities that will offer them a promising future," said Pedersen. "The reasons for need are always complex. Some stu- dents come from single-parent households. Some families are strug- gling with job loss or bankruptcy, or both. Others are coping with serious ongoing medical conditions or are caregivers for loved ones." One of the big misconceptions about Wellesley is that there isn't a lot of financial need, said Liz Weaver, chair of the Scholarship Committee. One third of the scholarship recipients in 2014 had an average family "the costs of education keep increasing" education Rena Mirkin, former principal of Wellesley High School, and her husband, Howard, celebrated their 50th wedding anniversary in June and asked that remembrances be made to the Rena and Howard Mirkin Scholarship.

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