Schreyer Honors College is the selective honors program of Penn State University. Typically, 1,500 students apply and admission is limited to 300 students. Total population of the college is over 1,700, with about 1,550 at University Park. Schreyer Scholars receive an annual Academic Excellence Scholarship of several thousand dollars. Other than that, it offers small honors courses, housing, and other opportunities. It was created in 1997 by a $30,000,000 gift from William A. Schreyer, chairman emeritus of Merrill Lynch & Co., Inc., and his wife, Joan Schreyer.

Schreyer Scholars are simultaneously enrolled in the Honors College and the college of their major. The College has no new buildings dedicated to it, but utilizes existing facilities. However, Atherton Hall and Simmons Hall are dedicated mainly to honors students. Forty percent of those who graduate from Schreyer Honors College join sometime after their enrollment at Penn State.

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