Hobart and William Smith Colleges

Paying it Forward

Young alumnae team up to magnify the impact of the scholarship established by Peggy Bokan Greenawalt ’66, L.H.D. ’21.

BY ANDREW WICKENDEN ’09

Opportunity. Confidence. Independence.

Since 2015, 13 alums have graduated with nearly no student loan debt thanks to a unique scholarship created by Peggy Bokan Greenawalt ’66, L.H.D. ’21. Allowing them the freedom to take risks and bet on their dreams, the scholarship has been a springboard for professional ambitions and forged a support system for the recipients. In 2023, in recognition of this gift, they established an Annual Fund scholarship in Greenawalt’s honor to extend opportunities to future generations.

Greenawalt, who had a long and successful career in the finance industry, says the absence of debt when she graduated more than 50 years ago allowed her “enormous freedom in terms of making job decisions and taking risks — and it paid off.”

Passing on that freedom was her vision when she began investing in selected high-achieving students to mitigate their student loan debt. “I was hoping that these promising women would understand the scholarship as my choosing to invest in another individual, and that they would be able to take risks, too,” Greenawalt says.

The growing cohort of Greenawalt Scholars meets in New York for an annual dinner to share their post-graduate journeys and develop their own support system, reinforcing the personal nature of this “investment.” For Greenawalt, the core message is that “the student is acknowledged — that somebody has said, ‘You are going to be terrific and I have confidence that that is going to happen.’”

As the scholars prepare to launch their own fund in Greenawalt’s honor, she looks forward to the long-term effects of this cycle of support on the HWS community. “I’m delighted that something has happened so soon,” she says. “It makes you hopeful that they’ll be able to perpetuate it on their own.”

"Peggy’s scholarship allowed me to expand my horizons...and...dream about what could be possible in my career, without making decisions based on my debt burden.... I hope that future alumnae feel the impact of how life changing this type of philanthropy can be and are inspired to live a life that enables them to continue giving the gift of giving to others."
Ali Ware ’16, Investment Director at Cambridge Associates, M.B.A., Haas School of Business, University of California Berkeley

"Simply put, Peggy’s scholarship has provided me with freedom, security and independence.... I have been able to take risks in my career and personal life, all while saving and investing for the future. I hope future alumnae are able to live fuller, more meaningful and less stressful lives, seize opportunities and explore their passions without financial worry."
Cory Kenny ’17, Senior Client Manager at Swiss Re

"Peggy’s scholarship has not only provided me with opportunity and confidence but has also empowered me to...fearlessly dive into the dynamic startup scene.... My hope for the impact of the scholarship endowed by the Greenawalt scholars is to perpetuate a legacy of excellence for William Smith women, who actively support one another in their pursuit of success, ultimately propelling them to positions of leadership and distinction across a variety of fields."
Maya Weber ’20, Entrepreneur

"Peggy’s generosity has done much more than grant me a significant amount of financial freedom to seek out opportunities I otherwise wouldn’t have the ability to pursue. [Her] gift created a phenomenal network of driven, high-achieving women that are now tied to one another."
Maura McNamara ’22, Consultant at Putnam Investments

"Peggy’s scholarship introduced me to a group of women that are the true embodiment of women pushing women up. It is incredibly special to watch each other grow as our careers go on. I hope the future alumnae who receive this scholarship we are creating will use it not only to make decisions that are best for their career, but decisions that are best for their personal growth."
Thayer Kennedy ’20, Finance Associate at a renewable energy private equity firm and Master’s Candidate in Sustainability Management at Columbia University

"Being part of a community of successful and ambitious women, I have role models in the previous recipients of Peggy’s scholarship. I hope future alumnae experience some of the same effects Peggy’s scholarship has had on me and the legacy that Peggy has fostered in creating strong ties between alums and students."
Payton McMahon ’22, Analyst at Sumitomo Mitsui Banking Corporation

"Peggy’s scholarship has given me the chance to start my career focused on making the most of each and every opportunity without the pressure of student debt hanging over my head.... I hope that the scholarship we are creating in her honor will help to lift the burden off of someone else’s shoulders, allowing them to explore and thrive in their college career."
Gretchen Vietor ’22, Second Year Investment Banking Analyst at Wells Fargo