Giving Back to Support Students
David ’94 and Gwen Wu Create Scholarship in Yale College
David Wu ’94 has a deep appreciation for his time at Yale. “I was a transfer student from China,” he says. “Coming to Yale for my sophomore year, I fell in love with the campus and the community. Studying computer science and mathematics at Yale set me up for success in graduate school and beyond.” After graduating, Wu entered the financial industry and later founded an asset management firm. He is dedicated to giving back to Yale: he has served on the Alumni Schools Committee since 2005, interviewing applicants to Yale College, and he has been a loyal and consistent donor to the Yale Alumni Fund.
“Philanthropy is very important to me and my family,” Wu says. “Gwen and I realized we could have a direct impact on students with a permanent scholarship in Yale College.” Together, they created the David and Gwen Wu Scholarship Fund in 2011 and supplemented it with a gift in honor of his class’s twenty-fifth reunion in 2019.
Scholarship support is vital in Yale College, where students are admitted regardless of means. This year, 53.3 percent of Yale undergraduates receive financial aid from the university, with awards based entirely on demonstrated need. With an average annual grant of $55,178 per student, Yale College scholarships total $182.9 million in the 2019–2020 academic year.
“Endowed scholarships are an essential tool in our efforts to bring to Yale the most talented and promising students from all socioeconomic backgrounds,” says Jeremiah Quinlan ’03, dean of undergraduate admissions and financial aid. “Alumni like David who create scholarships send the message that the alumni family stands behind all of our students. We are very grateful for David and Gwen’s generosity, which will help keep Yale accessible for generations of students to come.”
Since 1964, Yale has made good on its promise that qualified students can enroll here regardless of their financial circumstances. In 2001, the university extended its need-blind admissions policy to outstanding young people from around the world—making Yale one of only five U.S. institutions to offer need-blind financial aid and meet the full demonstrated need of international students.