Penn State Passes $2-Billion Campaign Goal Ahead of Schedule

Weathering both the Great Recession and fallout from the Jerry Sandusky sex-abuse scandal, Pennsylvania State University has made the $2-billion target in a seven-year capital campaign set to end this summer, The Chronicle of Higher Education and The Philadelphia Inquirer report.

Penn State officials announced at a campus celebration Saturday that the university’s “For the Future” campaign has amassed $2.158-billion, hitting its goal several weeks before the campaign officially closes June 30. The effort’s success “clearly demonstrates that Penn State is stronger than ever and that Penn State values endure,” said Rodney Kirsch, senior vice president for development and alumni relations.

About a third of the total will go toward boosting the university’s endowment, and nearly $519-million will be applied to undergraduate scholarships, one of the campaign’s priorities. Mr. Kirsch said nearly 45,000 students already have received scholarships with the help of gifts to the campaign.