Princeton High School graduate Yoanna Pumpalova found herself in the midst of a financial predicament when, halfway through her studies at Barnard, her father lost his job.
Combined with her sister finishing college, a fact that drastically alters a financial aid package, she turned to the 101 Fund, a local nonprofit with the sole purpose of aiding Princeton High graduates financially as they pursue their college educations.
Ms. Pumpalova, now 23, finished at Barnard and has spent a year doing malaria research at Princeton University before heading back to New York to attend Cornell’s medical school in the fall.
”I think it’s unique,” she said. “It’s really great that there are actually quite a lot of resources in Princeton to help students.”
The organization, originally called the Princeton Regional Scholarship Foundation, was founded in 1970. A bit of mystery surrounds the founder of the organization.
”I think we’ve heard for a while that it was a secretary in the front office, but now somebody has told me that maybe it was a PTO member,” said Pat Pannel, co-president. “It’s not exactly clear who the person was who had this idea.”
”But sometime in 1970 somebody who was working over at the school noticed that there definitely was need even though Princeton is such an affluent place, or is perceived as such an affluent place, that there clearly are kids who are going to be struggling to come up with their college tuition payment,” said Ms. Pannel.
”This is a town where there are people who are certainly very, very well off, but living just a stone’s throw from people who really need a lot of help,” said Ms. Pannel.
Over time, the organization has expanded, reaching out not only to students who are at the very bottom of the spectrum economically, but also those who come from middle-income families who are struggling because of the economy.
Several years back they changed the name to the 101 Fund and underwent a branding project to help raise awareness about the community resource.
As economic times become more challenging, the importance of such an organization increases. They have families where parents have lost their jobs or their businesses have failed.
”It’s a pretty wide spectrum of kids,” said Ms. Pannel.
This year the 101 Fund had 50 percent more students apply than in previous years.
”On one hand, we’re very happy that the kids know about us,” said Riva Levy, co-president. “Part of it is that there is a bit more awareness of the organization, so kids apply. On the other hand, that means we also need to raise more money. Since the economy affects everyone, it also affects big organizations that would fund us. More kids apply, more money is needed. That’s our goal now to try to raise more money.”
All of the scholarships the 101 Fund awards are need-based, merit blind. For that reason, they don’t publish the names of the recipients. But when tuition reaches heights such as $57,000 per year, admitting the need for assistance loses its shame, said Ms. Pannel.
”However, we do have an awards ceremony,” said Ms. Levy. “And for the awards ceremony, the families do come. It’s an organized event. The parents come. The kids come. So, they’re out there. It’s not like they’re hiding and nobody knows who they are.”
The financial aid department at Princeton University reviews the applications to determine what the contribution of the family should be. Then the organization looks at both the cost of the school and the financial aid package to see if there is still a gap. If there is, they try to fill a portion of it. The scholarships can be received beyond freshman year.
”The only exception to that being the kids who are going onto Mercer County, and historically for kids who demonstrate need and are applying to Mercer, we cover the whole bill,” said Ms. Pannel. “I don’t know if we’re going to keep doing that though because this year is the first year where we are really well above the amount that we’ve given out in the past, and that’s made us look at our own resources and say ‘Can we afford to keep on telling all the kids who apply to Mercer County who have need that apply to us ‘we’ll pay your Mercer bill up to $10,000?’”
This June, the 101 Fund awarded scholarships to about 35 students.
When we’re at the awards ceremony, it’s hard not to just feel like crying because you’re just really moved and so happy because a lot of those kids are clearly the first kids in their family who are going to go to college,” said Ms. Pannel.
They secure their funding from grants, author luncheons, an annual dance and silent auction and a direct mail appeal. Students can pick up the application from PHS or download it directly from their website at www.fund101.org.
Having received support for her education has inspired Ms. Pumpalova to give to others.
”I already try to contribute to Barnard.”
Their senior gift went to help other students with scholarships.
”People helped me so much with my education that it would be selfish not to,” she said.