Licorice magnate gives record $17.3 million to Penn State Abington
Pennsylvania State University's Abington branch has received a $17.3 million gift from licorice magnate Steve Taub — the largest gift in the campus' history, the school said Wednesday.
Taub, a Penn State Abington and University Park alumnus who graduated in 1973, designated the gift for the creation of the Taub Endowments. While 40 percent of the money will go toward financial-aid scholarships, another 40 percent will fund study-abroad and other global programs. The rest will be used to expand classroom spaces and technology.
The gift is "unique among all the campuses," said Eric J. Barron, Penn State's president, because it will create more international opportunities for students who aren't from affluent families.
"If you are financially need based, are you going to be studying abroad? It's unlikely," he said. "We know how transformative these experiences are. … This is a gift that's totally focused on student success."
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