What to Know
- The University of Pennsylvania is marking the largest law school gift in collegiate history.
- The Penn law school will become the Carey Law School after receiving a $125 million gift from the W.P. Carey Foundation.
- Among other things, the donation will be directed toward increasing financial aid for historically underrepresented students.
The University of Pennsylvania law school will become the Carey Law School after receiving a $125 million gift, the largest ever to a law school.
The W.P. Carey Foundation's donation will be directed toward increasing financial aid for historically underrepresented students, expand its pro bono program and recruiting top-tier faculty.
Funding will also go toward building up interdisciplinary and entrepreneurial programming. The foundation's had a "long and deep history" as the family's connection with the university dates back more than 100 years and the most recent gift is specifically in honor of Francis J. Carey, who graduated from Penn undergrad in 1945 and its law school in 1949.
The Carey foundation has given more than $375 million to hundreds of educational institutions since it was founded in 1990, including donating $30 million to the University of Maryland's School of Law, now named the Francis King Carey School of Law, in 2011. The foundation also donated $50 million to Arizona State University in 2003 to fund and rename its business college, and donated $25 million to the school in last January.
Read more about other massive law school gifts on PBJ.com.
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