<p>Face</a> to face, funding gets personal - News</p>
<p>"...Wharton ombudsman William Whitney chatted with Wharton freshman Adam Brown, the recipient of a $1 million scholarship endowed in Whitney's honor."</p>
<p>Is that even possible to receive a $1,000,000 scholarship?</p>
<p>It doesn’t mean someone received a million dollars as part of some ludicrous scholarship plan. It means this guy Whitney set up a total scholarship of $1,000,000, that finances multiple students for multiple years. In other words it’s divided among various recipients.</p>
<p>It’s a $1 million endowment, the annual income from which funds the scholarship. The $1 million principal itself is never spent. That portion of the DP article isn’t written (or edited) very well.</p>
<p>Still, the $2,000,000 a day for Penn is very nice.</p>
<p>If they can keep up that pace, they’ll have raised about $5 billion by the time the campaign concludes!</p>