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The Nittany Lion Club would like to take a moment, on this gameday, and thank you for your support of Penn State Athletics. The past year has been a difficult time for us all and with your help we will get through this process. Please know that your contributions are very important and greatly appreciated. When you give to the Nittany Lion Club you play an essential role in supporting our student-athletes in the classroom and on the playing surface.
The next few years will be critical to the future success of Penn State Athletics, with that being said, the Nittany Lion Club urges you to continue to renew your membership for the 2013 year. The renewal dates and deadlines will continue to be the same as last year. The early renewal deadline is November 1, 2012. If you decide to renew your donation/gift early you will receive five Nittany Lion Club points, and if you donate your full gift online you will receive an additional three points. If you choose to wait the normal deadline will remain February 1, 2013.
The Nittany Lion Club is also in the process of exploring a five year giving option as a way to show your commitment to student-athlete support over the next few years. This tentative plan has been formulated due to positive feedback from many members after the sanctions to do something more for student-athlete support and for the program.
Payments for NCAA Fine
Penn State expects to pay the fine out of ICA reserves, the deferring of capital and maintenance expenditures and an internal Athletic Department loan. The University fully expects that these funds will satisfy the $60 million, and it is impossible to speculate beyond the life of the Consent Decree.
Penn State will not use state or philanthropic money to pay the fine, and the fine is expected to have no impact on the scope and quality of the University's academic enterprise or on student tuition costs. Great care will be given to developing a budget that will protect all of our students. NOTE: Nittany Lion Club funds will continue to be used as defined by its mission. Each year, Nittany Lion Club donations are used to pay the overall grant-in-aid bill along with program operational costs, therefore all Nittany Lion Club donations are spent each year with no donation money being allocated to the ICA reserves.