ABINGTON, Pa. — Penn State’s Board of Trustees finalized the University’s budget and tuition and housing rates for the 2026-27 fiscal year among other actions during its meeting on July 17-18 at Penn State Abington.
During its session, the trustees approved:
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The final budget and tuition schedule for 2026-27, which includes a fourth consecutive tuition freeze for in-state undergraduates at the Commonwealth Campuses, and a 3% pool for merit-based increases for Penn State employees;
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The purchase of the former Beta Theta Pi fraternity house at 220 N. Burrowes St. in State College for $7.3 million;
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An update to the composition of the Penn State Investment Council (PSIC) that allows the chair or vice chair of the board’s Finance and Investment Committee to serve as an ex-officio member of the PSIC; and
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Proposed election of members of the Nominating Subcommittee.
The trustees welcomed alumni-elected trustees Uma Moriarty and Greg Pilewicz; Matt Espenshade, who was elected by delegates from agricultural societies; Ruby Bjalme, a student in the Schreyer Honors College and Smeal College of Business as the new student trustee; and Anand Ganjam, who will serve a two-year term on the board as the immediate past president of the Penn State Alumni Association.
The board also welcomed Dr. Michael E. Kupferman, who officially became CEO of Penn State Health on June 23.
Chair discusses president’s performance evaluation, recognizes Langkilde
During his remarks, board Chair David Kleppinger talked about Penn State President Neeli Bendapudi’s performance evaluation and her annual goals. Kleppinger cited her efforts to balance the University’s budget, saying, “You and your team have balanced our university’s budget one year ahead of schedule, completing one of the most impressive financial turnarounds in Penn State’s history. That outcome, while perhaps quiet, has been nothing short of transformative, and you’ve paired that progress with a cultural shift bringing greater accountability, transparency and clarity to how our university allocates and manages its resources.”
He noted Penn State’s fundraising success in securing more than $560 million in philanthropic commitments — exceeding the previous year’s total by more than $160 million — as well as the University’s progress in research and her leadership reimagining the Commonwealth Campuses, among other achievements. Kleppinger acknowledged Bendapudi’s energy and positivity, and highlighted her progress across the institution, including fiscal health, research excellence, student success, health care operations and philanthropy.
He also recognized Interim Executive Vice President and Provost Tracy Langkilde for her work since stepping into the role in April 2024.
“Dr. Langkilde has provided key leadership to reenvision our Commonwealth Campus structure, guiding pivotal decisions on campus alignment and leadership appointments — work that will shape Penn State’s future,” Kleppinger said. He cited her work on a number of fronts, including academic innovation, faculty development and governance, operational excellence and Penn State Global, among other efforts.
Kleppinger said, “She has been — in the words of many colleagues — a joy to work with.”
Bendapudi also thanked Langkilde, noting her excitement, positive energy, dedication and selflessness she brought to the role of interim executive vice president and provost.
Langkilde will return to her role as dean of the Eberly College of Science as Fotis Sotiropoulos begins as executive vice president and provost on Aug. 11.
President highlights recent achievements, inaugural Energy and Innovation Summit
During President Neeli Bendapudi’s report to the board, she highlighted recent achievements at the University, including:
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The dedication of Fuller’s Overlook land and property near Scranton, Pennsylvania;
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The opening of the newly constructed Susan Welch Liberal Arts Building at University Park campus;
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Penn State women’s volleyball coach Katie Schumacher-Cawley who was honored with the 2025 Jimmy V Award for Perseverance.
Bendapudi also discussed her recent experience moderating a panel at the inaugural Pennsylvania Energy and Innovation Summit on July 15 in Pittsburgh alongside Pennsylvania Gov. Josh Shapiro, U.S. Sen. Dave McCormick and Amazon Web Services CEO Matt Garman.
“The summit — and Penn State’s role in it — highlighted Penn State’s position as a leader in Pennsylvania,” she said. “We are committed to continuing to be here for the commonwealth, and to doing all we can to deliver value to our students, to our state and to the future we are all building.”