The Penn State outdoor track is behind the Bryce Jordan Center, and the Ashenfelter Multi-Sport Facility, between University and Porter Roads. Pluses: has a nice surface and is a great track. Minuses: It's almost always windy there.
NOTE: The PSU outdoor track has erratic hours lately (since January 2016). It is sometimes locked up, but often open during the day. There is a plan to put in a new track later in 2016.
Penn State's outdoor track is a 400m track, but has some mile markings as well. On the inside curb before the common finish line, there are 4 equally spaced white arrows that indicate the additional distance needed to run quarter miles up to a mile in lane 1 . To run a quarter-mile, back up to the first arrow and run to the common finish plus one lap. For a half-mile, back up to the second arrow and run to the common finish plus two laps, etc.
There are also some mile markings on the outside unnumbered "warmup" lane. Quarter miles are marked in white on the outside curb from 1/4 to 3 miles. You'll need to count laps to get this right. The 1/4-mile mark is about 45 yards before the common finish line. To run a 1/4-mile in the marked warmup lane, start at the common finish and run counterclockwise to the 1/4-mile mark, about 9/10 or a lap. To run a mile in the marked warmup lane, start at the common finish line, run three full laps, then run to the 1-mile mark, for a total of nearly 3.5 laps.