Philadelphia, or 'Philly, ' is home to many schools, including the University of Pennsylvania, commonly referred to as Penn. Penn is a private Ivy League research university located in Philadelphia, Pennsylvania. Founded in 1740, it is one of the oldest universities in the United States and the first university in the nation to refer to itself as a university. Penn offers a wide range of undergraduate and graduate programs, as well as professional degrees in law, medicine, and business.