An early goal of those who founded the Wells High School Alumni Association was to build a fund big enough to give the first scholarships in 2003, in conjunction with the 350th Anniversary of the Town of Wells. After several years of fundraising, WHSAA was able to present four $1,000 scholarships to deserving members of the Wells High School Class of 2003.

In 2004, the Alumni Association accepted the administration of the long-standing Ethel M. Weymouth Scholarship Fund and the newly-created Edward A. Morse Vocational Scholarship. In 2010, WHSAA agreed to handle a scholarship in memory of Michael Pauk. Other memorial scholarships have followed.

Each year, WHSAA notifies the Wells High School guidance department of the scholarships available and their amounts. Using information provided by the guidance department, a WHSAA committee chooses the scholarship recipients.

Through 2010, scholarships handled by WHSAA totaling $30,850 have been awarded to WHS graduates. Money for scholarships comes from activities such as variety shows, yard sales, road races, scrapbooking crops and raffles. Alumni donations are a significant addition to the work done by WHSAA.

WHSAA is a non-profit 501(c)3 corporation dedicated to providing scholarships for WHS alumni. Donations are tax-deductible to the full extent of the law.