Southernmost Ivy League school (4)

I believe the answer is:

penn

(Other definitions for penn that I've seen before include "William ---, Quaker colonist" , "US state (abbrev.)" , "Early Quaker leader" , "Milk actor" , "William --, founder of a US state" .)

I've seen this clue in the Newsday.com and The Wall Street Journal.

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