The gift from Wharton alumnus Greg Mondre and Alexandra Mondre will establish the Mondre Family Initiative, increasing tuition affordability for more than 1,000 families each year.
The University of Pennsylvania today announced a $20 million gift from Wharton alumnus Greg Mondre and his wife, Alexandra, to advance financial aid and opportunity for middle-income students.
Penn has long offered some of the most generous financial aid policies in the country, meeting 100 percent of students’ financial need with grants, not loans. Building on this foundation, Penn reaffirmed and further strengthened its commitment in 2024 through an expanded set of financial aid policies known as the Quaker Commitment. Since then, the University has been effectively tuition-free for families earning up to $200,000 with typical assets, and home equity is no longer included in financial aid calculations.
“Through the Quaker Commitment, we are working to expand our deep commitment to affordability across the income spectrum,” says Penn President J. Larry Jameson. “We are deeply grateful to Greg and Alexandra for their dedication to expanding opportunity. This gift is an acceleration of a vision to make higher education accessible to all, and it will help us set a new national standard for supporting middle-income families.”
In recognition, Penn will name the Mondre Family Student Service Center in the Franklin Building. The Center serves as a hub for student support and houses Financial Aid Counseling, the Registrar, and the Bursar’s offices. The Center is also home to Penn’s Financial Wellness program, which equips students with the resources to build financial confidence and acumen. Together, these services are united in a modern, welcoming environment that provides essential support to undergraduate and graduate students across the University.
For the last full academic year—24/25—Penn awarded $330 million in grant-based aid to 46% of all Penn undergraduate students. The average amount received was $72,155. Notably, 65% of aided students received financial support that covered more than the full cost of tuition. Penn also provided $338 million in financial aid to graduate and professional students across its 12 Schools, plus an additional $90 million in stipend support.
The Mondres’ gift is a powerful investment in strengthening these efforts and widening access to Penn. The vast majority of their gift will establish the Mondre Family Initiative to sustain and advance a suite of middle-income financial aid policies that will increase affordability for more than 1,000 families each year.
Greg Mondre, a founding member of the Undergraduate Financial Aid Leadership Council, has played a key role in advancing these efforts. “Penn opened doors that shaped the course of my life, and I believe in expanding that opportunity for others,” he said. “Too many middle-income students and their families face difficult trade-offs that limit how they approach, choose, and navigate a path through higher education. Alexandra and I are proud to support Penn’s leadership in addressing this challenge by working to ensure students can fully participate in everything the University has to offer.”
Greg Mondre is a managing partner and co-CEO of Silver Lake. He earned his B.S. in economics from the Wharton School in 1996. Alexandra Mondre is a managing partner at AGM Ventures.
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