Students could receive individual grants worth up to $1,000 through the relief funding initiative.
Adjusted hours of operation will be in effect on Monday, May 31.
Penn State men's lacrosse star Mac O'Keefe has received third-team All-American honors for his services to the Nittany Lions this spring.
Students from University Park and Commonwealth Campuses collectively wound up raising $29,502.67 through the campaign.
Shrewsberry jokingly replied to the announcement on Twitter and said he has a week to "get his throwing arm in shape."
Penn State's libraries will officially begin operating under new summer hours starting Monday, May 10.