A wealthy but frugal investment banker from Kennebunk left an important legacy when he died two years ago. His millions will establish scholarships at Fryeburg Academy and Bowdoin College and promote academic programs.
Bion Cram was an alumnus of both schools, which he attended as a scholarship student, and he split his entire estate between them. As a poor farm boy who believed a private school education helped him achieve success, he had for years shown his gratitude with generous gifts, helping establish the academy’s Bion R. Cram Library.
The bequest to Fryeburg Academy amounts to $15 million ”“ the largest amount ever left to a secondary school in Maine. Clearly he intended to help other poor students follow his path to a successful life and career.
Fryeburg Academy prides itself on the diversity of its small student body. It is an independent secondary school with an enrollment of fewer than 700 students, both day students from surrounding towns and boarding students from across the U.S and around the world. It is co-educational, and was one of the first U.S. schools to accept girls.
Incorporated by residents of Fryeburg and nearby towns in 1792, its charter was signed by John Hancock. Besides a rigorous academic program, the school offers a global studies program and the opportunity to focus on entrepreneurship. Tuition, room and board is $39,200 per year.
Cram arrived at the school during the hard times of Depression, but the school’s tuition is equally out of reach today for most Maine families. The generosity of Cram’s bequest ensures that promising Maine students will have to opportunity for a boarding school education.
— Questions? Comments? Contact Managing Editor Nick Cowenhoven at nickc@journaltribune.com.
Comments are not available on this story.
Send questions/comments to the editors.
