Penn Gave Ex-President Amy Gutmann a $3.7 Million Home Loan as She Prepared to Depart the University

As president of the University of Pennsylvania, Amy Gutmann was one of the highest-paid administrators in the nation, receiving in her final year a nearly $23 million payout, largely made up of deferred compensation accrued over her 18-year tenure. But that’s not all. The university’s trustee compensation committee in late 2020 quietly authorized a $3.7 million, 0.38% interest home loan to Gutmann, according to tax records and financial disclosure forms. Specifically, Gutmann, 73, had lived in the president’s house on campus during her tenure, and she wanted to purchase a home to stay in Philadelphia. She left the presidency in February 2022 to serve as U.S. ambassador to Germany.