Letter to Parents Regarding The Economy and Wellesley's Commitment to Financial Aid
President H. Kim Bottomly
November 21, 2008

The current economic turbulence is affecting everyone, and I am sure that one of your concerns has been about the impact it might have on your daughter at Wellesley.  I write to assure you that our commitment to providing the world’s finest liberal arts education is as strong as ever, and our ability to do that is unchanged.

Of course, Wellesley, like all colleges and universities, has felt and will continue to feel the effects of the financial turmoil for some time.  A significant portion of the revenue in Wellesley’s annual operating budget comes from our endowment, which includes investments that have been adversely affected by the recent volatility.  However, unlike many institutions, our relatively strong financial position allows us to continue to support our commitment to academic excellence and to support our other core institutional priorities.

We recognize that the economic turmoil has affected not just institutions, but individuals and families as well, many of whom have seen their financial situations change in recent months. I want to assure you that Wellesley is prepared to work with families and is committed to helping those whose financial circumstances may have changed.  Even in these volatile times, we remain dedicated to fully funding students to the extent of their demonstrated financial need.  Our pledge to young women remains true, now more than ever, “If you belong at Wellesley, we will see that you can go here.”

If you have any questions about your daughter’s financial aid or about how your financial situation might affect your ability to afford your daughter’s Wellesley education, this year or in the future, please contact Kathryn Osmond, executive director of student financial services, at 781-283-2360.

It will not be easy, but we will weather this economic storm, as we always do, and any necessary adjustments will be judicious ones.  Wellesley College is accustomed to making wise choices and to being fiscally responsible.  You may be assured that we are fortunate in our level of resources, and confident in our ability to continue to manage those resources strategically and in accord with our institutional priorities. Our historic record of success at educating women who make a difference in the world will continue.

P.S. To help us communicate with you, we need your help in updating your email address.  Please send an email to recordupdates@wellesley.edu with your daughter’s full name and class year, your name, and your preferred email address.