Note
I've been dealing with all sorts of loose ends as part of the process of settling my mom's affairs, and there was one recently that was quite something.
I'd noticed over the past few years that once a year a letter would arrive for her from Princeton University. It was from the part of the University that dealt with scholarships. My grandfather (her father) had gone to Princeton at some point in the teens (ie. roughly 100 years ago). He was killed in WW1 in France in 1918, and in 1919 his father donated money for a scholarship in my grandfather's name.
So for many, many years there had been a letter each year to my mom saying who that year's recipient was. And some years also at some point a personal letter from the recipient. I read a couple of them, very impressive. I thought it would be fascinating to connect with them, just for a chance to see a view of life through their eyes, but there is always the gap between thinking and doing, and it never happened.
In going through things recently I noticed that the most recent letter, back in November, still had my mom's address on it. I'd changed almost all of her mail to my address, but apparently not for Princeton. I figured I'd better do it or the connection might just disappear.
So I called them up. Got an assistant first, her boss was busy at the moment, gave her the new address, told her the circumstances. And then, just because I was curious, I asked about the details of the scholarship. She'd have to look them up, and she'd get back to me.
About 10 minutes later the phone rang, and this time it was her boss. She was also very friendly, and had looked up the history. A donation in 1919 from my great-grandfather of $10,000. It was invested, with the income each year used for a scholarship for a single student. The current value was just over $1 million and the scholarship amount this year was about $44K. Wow, I thought.
Princeton is not cheap, and 44K doesn't cover a year's cost, but it covers a good chunk of it. All I could think was, what a cool thing for great-grandpa to have done, that each year it is put to such good use.
I also asked if there were any restrictions on the use of the scholarship. "You mean like only for left-handed pitchers from Vermont?" Said with a tone that implied they had a lot of restrictions to deal with. Including one substantial bequest a long time ago that put a cap of $600 on the amount of aid to any one student, and now there were some 800-900 students getting aid from that scholarship each year. No, she said regarding this scholarship and sounding very pleased, no restrictions at all.
And just now, curious again, I looked up what 10K in 1919 would be worth in today's dollars? Less than I would have guessed, 143K. Princeton has done a good job investing over the years.
And hopefully, next time I get a letter from them about the latest recipient, I'll follow up. Never know what I might learn.