Merit scholarships: Peddie’s commitment to access
Peddie’s merit scholarships give students an opportunity to attend Peddie regardless of financial background. Associate Director of Admission Hannah McCollum explains this key aspect of Peddie’s mission.
In the 1920’s, Peddie welcomed Walter Annenberg ’27 when other schools would not because he was Jewish. Annenberg’s appreciation for his Peddie experience led him to make a transformative gift to the school in 1993, endowing funds to support financial assistance, innovative programs and faculty recruitment. The Annenberg story is central to Peddie’s identity, as is our commitment to making a Peddie education accessible to students with excitement, curiosity and character, regardless of a family’s financial circumstances.
Three decades later, in the early 1950’s, Michael Armellino P’57 GP’19 arrived at Peddie. His father, who had only a fourth-grade education, passed away when Mike was 8 years old, leaving behind a life insurance policy to fund his children’s education. Like Walter Annenberg, Michael Armellino’s experience as a Peddie student led him to give back to the school. For years, his gifts created much-needed faculty housing and supported capital improvements around campus.
In 2013, Mr. Armellino endowed the Armellino Scholars Program, which recognizes students with exceptional academic achievement, demonstrated strength of character, marked intellectual curiosity and infectious excitement for life. This merit-based scholarship provides financial assistance to extraordinary applicants, without drawing upon our need-based financial aid budget. Armellino Scholars receive full tuition and board for the duration of their time at Peddie. Their books and travel expenses are covered, and they receive funds to support a Signature Experience.
These generous Peddie alumni, and many others, have uniquely positioned Peddie to make this remarkable institution a reality for students of all backgrounds. Although the vast majority of Peddie’s financial assistance resources are intentionally directed towards need-based financial aid, we are also incredibly fortunate to have funds designated for merit scholarships. The Armellino, Annenberg and Potter Scholarships provide students with tuition assistance regardless of their financial circumstances. Whereas families apply for need-based financial aid during the application process, Peddie automatically considers all applicants who complete their applications by our January 15th deadline for one of our selective merit scholarships, which require no separate application or additional materials.
As noted in a recent National Association of Independent Schools’ (NAIS) report, How Parents Pay School Costs, families value what independent schools offer, including our safe learning environments that support individual needs and our ability to provide balance between academic rigor and social-emotional growth. But the rising cost of independent schools creates stress for families who want to provide this educational option for their children. As the NAIS report explains, “as inflation increases, rising tuition and other school costs make parents more dependent on financial aid”. Indeed, “cost remains a significant barrier for parents whose children were not enrolled in private schools in 2023–2024, with 88% of them citing lack of financial aid as key reasons for not enrolling their children.”
When Peddie offers a family any form of financial assistance, we are committing to meet that family’s financial need for the entire time that the student attends our school. Families receiving financial aid submit documentation each year, as circumstances can change. We are always willing to work with a family throughout the duration of a student’s Peddie experience. And all of our financial aid awards are grants: they do not need to be paid back. Merit scholars are, like all students, expected to remain in good standing, but there are no specific conditions to retain their scholarships.
Of course, it is no surprise that our merit scholars continue to impress us with their contributions to Peddie and their remarkable accomplishments as alumni. Our Potter and Annenberg scholars regularly elevate our community with their academic, athletic, and artistic accomplishments, and have gone on to serve as leaders around the world. Armellino scholars have served as student government presidents, led service initiatives around campus and beyond, traveled far and wide to conduct scientific research at top-tier universities, and pursued careers in everything from musical production to medicine to finance, all under the direct mentorship of Mr. Armellino, who meets with his scholars multiple times per year and remains close with alumni.
If a student craves the possibilities at Peddie but the cost seems prohibitive, we encourage them to apply. Every year, we offer millions of dollars in financial assistance – both need- and merit-based aid – to support terrific students. Parents of merit and financial aid recipients at Peddie frequently share how they never thought this opportunity could be possible. Thanks in large part to Walter Annenberg and Mike Armellino, we can open that door.