The University of Panama was founded on October 7, 1935, with a student body of 175 in the fields of Education, Commerce, Natural Sciences, Pharmacy, Pre-Engineering and Law. As of 2008, it maintains a student body of 74,059 distributed in 228 buildings around the country.The University of Panama was founded under the administration of the President of the Republic, Dr. Harmodio Arias Madrid. Its founder and first President was the distinguished citizen Dr. Octavio Méndez Pereira. The University of Panama is a state institution of superior, independent education, inspired by the highest civic, moral, and ethical values.