Record $17.3 Million Donation Made To PSU Abington

ABINGTON, PA — A former Penn State Abington student has committed to donating $17.3 million to the university, marking the largest donation in school history.

The donor is Stephen Taub, who graduated from Penn State's main campus in 1973 and went to become the president and CEO of Mafco Worldwide Corp, one of the largest licorice manufacturers in the world.

The donation established Taub Endowments, and which will be used to provide scholarships and international study opportunities for students. According to the university, programs will focus on " leadership, innovation, and multiculturalism within education, commerce, and government."

“Giving to Penn State Abington is a meaningful investment in the skills and knowledge students need to make positive impacts for the mutual benefit of everyone they come in contact with throughout their careers," Taub said, in a statement announcing the donation issued by the university. "Understanding diversity among people and societies nationally and globally based upon these learned skills and acquired knowledge are essential for long-term harmony and prosperity for the country and the world."

The university said the new funding will "transform the undergraduate experience."

"These (learning abroad) experiences are transformative and crucial for preparing to work in a global marketplace," Penn State president Eric J. Barron said in a statement.

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