Giving That Grows: The Lasting Power of Scholarship Bequests

A scholarship bequest is one of the most personal gifts a Princetonian can make — a way to ensure that the education that changed someone’s life does the same for generations of students to come.

Princeton’s first bequest goes back to the early days of our nation. In 1790, Esther Richards gave a gift of $2,970 to endow undergraduate financial aid. Two years later, James Leslie ’1759, who had attended the newly chartered College of New Jersey with the help of a gift of 13 British pounds from a “Fund for Pious Youth,” made the second bequest, his for $10,677. The two gifts were combined to form the Leslie and Richards Charitable Fund Scholarship, a fund that today is worth over $10 million. The scholarship has been awarded to hundreds of students, making the dream of a Princeton education into a reality.

Scholarship and fellowship bequests are the orange-and-black bedrock of the University’s ability to provide financial aid. They lie at the core of the University’s aspiration to ensure Princeton is affordable to all.

Why endow a scholarship?
#1: A lesson about growth from the Class of 1898

Endowed scholarships and fellowships continue to grow.

Take inspiration from the Class of 1898. More than 125 years ago, these thoughtful graduates — who became “Princetonians” in 1896, the year the College of New Jersey got its new name — began an early version of planned giving. It wasn’t enough to simply plant ivy on Class Day “to remind us of the love we have had for the college and the class,” as F. L. Johnson noted in his Ivy Oration speech. They did more.

The class created trusts and bequests that formed the principal of a permanent endowment.

Under the stewardship of Princeton’s investment managers, the Class of 1898’s endowment has continued to grow in market value, producing increasing amounts of income. That income has put the Class of 1898 on the honor roll of contributors to Annual Giving every year and has helped ensure that Princeton provides the margin of excellence that gives every student an education second to none. In recent years, the class’s Annual Giving donation has exceeded $1 million.

#2: Memorials keep memories alive

Scholarships are a wonderful way to honor a loved one, while also reflecting gratitude for the financial aid that made a Princeton experience possible.

“My daughter, Dr. Katherine C. Dallow ’94, and I established a scholarship fund in honor of and as a memorial to my husband Dr. Richard L. Dallow M.D. ’62,” Lois Dallow W62 said in a recent Generations story titled “Why I Joined the 1746 Society.”

“Richard was eternally grateful for the scholarship assistance he received from the University and steadfastly believed his Princeton education and experience were responsible for his pursuing additional post-graduate education and contributed to his professional and academic success,” said Lois Dallaw. “Princeton also instilled in him a lifelong passion for learning and teaching — both formal and informal. He would be humbled to know that he and our family are now in a legacy position of affording similar opportunities to deserving students at his, and his daughter’s, beloved alma mater.”

Gary Forlini, a friend of the University whose gifts were influenced by Princetonians from the Class of 1943, created the James R. Stack Scholarship Fund and documented his bequest intention to the Maurice Kirby Collette Scholarship as well as to the Stack scholarship to pay tribute to two men whose lives were cut short in service to their country soon after their graduation. Forlini, as part of the University’s stewardship of his gifts, has enjoyed lunching with recipients of the scholarships and continues to source information to enhance stories of the men’s lives and courage. As he said in a Generations story in 2025, Forlini wants to keep these men’s legacies alive and their “names in the air.”

This year, a Generations reader reached out to Forlini because his mother had been engaged to Stack, and the connection resulted in the sharing of Stack’s writings from the Pacific war zone to his fiancée, revealing poignant insights into the mind and heart of a man facing battle. Forlini hopes to share some of this legacy with future scholarship recipients.

#3: Make an impact

Facts tell their own story.

• More than 62% of Princeton’s scholarship budget for 2025-26 came from endowed scholarships
• About a third of all planned gifts are directed toward financial aid, and planned gifts represent about 30% of all financial aid gifts
• More than 300 undergraduate scholarships are funded through planned gifts
  

Graduate fellowships funds established by planned gifts from alumni, parents and friends enable students to focus on scholarship, teaching and dissertation research, while fostering the exploration of meaningful career paths. A full 100% of doctoral students receive financial support for the regular duration of their degree program. The funding covers the full cost of tuition and fees and a stipend to support estimated living expenses. This support is made possible with the more than 300 named and endowed fellowships.

Bequest basics: How to get started

Scholarships can be established through one’s estate in a number of ways at Princeton, including through a simple bequest through one’s will or trust, through a charitable gift annuities and charitable remainder trusts, or by making Princeton a beneficiary of one’s IRA or other account. Those who share the details of their plans for Princeton may receive gift credit now for their future gift.

Please reach out to Princeton’s Gift Planning team to begin a conversation about how a scholarship or graduate fellowship bequest can transform the lives of future Tigers: 609.258.6318; GiftPlanning@princeton.edu.

Additional information can be found on the Gift Planning website, including Bequest Basics and a Bequest Fact Sheet.

A note from the writer: For me, a member of the Class of 1984, this is more than professional — it’s personal. When my sister’s husband (who was also my classmate) passed away all too soon and his will included a desire to give to Princeton, my sister and I knew a scholarship in his name would have delighted him. The John W. Ressner, Class of 1984, Scholarship Fund is a lasting testament to John, who took time out from his work at Capital Group Co. to chair the Alumni Schools Committee in Manhattan for five years. John was grateful for his Princeton education, and we are grateful his name is permanently associated with a place he loved so dearly.

—Catherine Mallette ’84