Letterman's Vintage Black Wool Women's Cardigan Varsity "GAA" on K Size S/M.  

NOTE:  The color is solid black (apologies for the poor lighting).

Historical significance in women's sports as GAA was the Girls Athletic Association 1910-1950.  Sweater is believed to belong to Ramona Johnson, nicknamed Lops as embroided above right lower pocket.  

Please refer to all photos. 

Small repair upper arm. See picture.