Malden Catholic will be able to expand scholarship opportunities for its students through a $500,000 gift from Nobel Laureate Eugene Fama, and his wife, Sallyann Fama.
Malden Catholic officials said a significant portion of the donation will be dedicated to providing scholarships for deserving students with demonstrated academic ability and high financial need.
Eugene and Sallyann Fama are 1956 graduates of Malden Catholic and Girls Catholic, respectively, and are longtime benefactors of Malden Catholic, according to Robert Gregory, the school’s director of marketing and communications.
Officials said their latest gift reflects the couple’s commitment to the future of Malden Catholic as a school with a boys’ division and a girls’ division, and an acknowledgment of the Malden Catholic-Girls Catholic tradition that was so formative for them.
Malden Catholic last September opened the Malden Catholic School for Girls as a separate divsion of its until now all-boys independent Catholic high school. The Xaverian Brothers, which has sponsored Malden Catholic since the school opened in 1932, also sponsors the School for Girls, which is housed in a newly renovated addition to Malden Catholic’s building at 99 Crystal St.
The former Girls Catholic, sponsored by the School Sisters of Notre Dame, operated from 1908 until it closed in 1992.
“Bringing the School for Girls to Malden Catholic in this new model is a historic undertaking and well worth our support,” Eugene Fama, a professor at the University of Chicago Booth School of Business who was awarded the 2013 Nobel laureate in economic sciences, said in a statement.