Punahou School announced Sunday that it has received a $10 million gift from an anonymous donor and alumnus that will have a multiplier effect on its student financial aid program.
The gift represents one of the most significant philanthropic contributions in the school’s history, and by far the largest ever made outside of a capital campaign.
“This gift marks a milestone in our efforts to make Punahou accessible to more children with the talent and passion to thrive here,” said Punahou School President Jim Scott. “Financial aid helps ensure that all students who have been admitted to Punahou can attend, regardless of their family’s financial circumstances.”
During Scott’s tenure, the socioeconomic diversity of the student body has grown dramatically, with an 84 percent increase in the number of financial aid awards over the past 20 years. During the same time period, the percentage of the student body receiving financial aid has nearly doubled, from 8 to 15 percent.
Scott said he would like to see that number reach or surpass 20 percent – the equivalent of approximately 750 students – in the next few years.