Couple things:
The APR is an idiot number - it was constructed by the NCAA to mask the truly horrible actual graduation rates of Student-Athletes in the $$$ sports.
(That was discussed on this Board not so long ago - with some lauding PSU "setting records", others pointed out that EVERYBODY was "setting records" thanks to the manufactured number).
Unfortunately for PSU, the actual "old school" numbers - actually graduating - look, as one might expect, even worse.
This has been going on for quite some time - since SandyB/CJF took over.
For basketball, men's anyway, it is even worse - which is somewhat expected given the frequent coaching turnovers (which often precipitate graduation rates going in the tank)
This was written a couple years ago, but, obviously. the downward track has continued.
Penn State Athletics: Seven Years of Sandy Barbour, Part II - Academics (substack.com)