08 - 20 - 2013 PSU takes financial hit on merchandise royalties
The amount of money Penn State received in royalties from its licensed merchandise is down more than $700,000 from last year and almost a $1 million from the peak level two years ago. The university released the figures Monday in response to a request last week after the Collegiate Licensing Co. issued its annual rankings that showed Penn State had fallen from No. 12 to No. 19 on its list of top royalty-earning universities. The ranking didnât include the dollar amounts. Money from the royalties goes toward scholarship and student-related capital projects, said university spokeswoman Lisa Powers.