Milken Family Donated $3 Million to UPenn
The gift establishes a new scholarship for the university's Education Entrepreneurship master's program.
Updated on Sept. 28, 2026 in Scholarships
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Gregory and EJ Milken have donated $3 million to the University of Pennsylvania Graduate School of Education. The gift creates the Milken Endowed Scholarship to support students enrolled in the Education Entrepreneurship master's program.
Why it matters
The donation aims to attract leaders focused on educational innovation by easing the financial burden for students. It ensures that promising entrepreneurs can pursue graduate education regardless of their financial circumstances.
The gift totals $3 million, supporting a program that first launched in 2014. Alumni of this specific master's track have successfully launched 150 education enterprises to date.
The players
Gregory Milken
He is a 1995 graduate of the University of Pennsylvania and a member of the Penn GSE Board of Advisors.
EJ Milken
He is a donor who contributed to the new scholarship fund at the University of Pennsylvania.
University of Pennsylvania Graduate School of Education
This is a prominent graduate school in Philadelphia that oversees the Education Entrepreneurship program.
The details
This endowment provides funding for students in the one-year master's program, which offers a curriculum integrating resources from both the Graduate School of Education and the Wharton School. Gregory Milken, a 1995 university graduate who serves on the school's Board of Advisors, directed the funds to foster innovation in the education sector.
Timeline
The Education Entrepreneurship program was launched in 2014.
The university received the donation between September 21 and September 27, 2026.
The university publicly announced the $3 million gift on September 24, 2026.
Culture Shift
This contribution reflects a broader shift toward targeted philanthropic support for specialized professional master's degrees. It follows a pattern set by the historical trend of alumni-led endowment growth in higher education.
Current and prospective students in the Education Entrepreneurship program will have access to new financial support, reducing the cost of their one-year master's degree. This scholarship lowers the barrier to entry for innovators seeking to develop education-focused businesses in the region.
The takeaway
Targeted endowments often serve as a catalyst for specific academic programs to recruit high-level talent. Prospective graduate students should regularly monitor university donor announcements to identify new, program-specific funding opportunities.
Further reading
Learn more about local financial aid opportunities in our Scholarships section.
Source note: This article includes information reported by Former Penn President Liz Magill earned $4.46 million the year following her resignation - The Daily Pennsylvanian.
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