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  • Writer's pictureRebecca Natow

Trump Administration Said Harvard Should Not Take Stimulus Funding; then Harvard Agreed

At a news conference earlier this week, President Trump said that Harvard University, which has an approximately $40 billion endowment, should return federal funding it recently received. Then yesterday afternoon, Harvard indicated that it would not be accepting the funding it would have received under the CARES Act stimulus bill.

From Inside Higher Education: "Wednesday afternoon, 24 hours after President Trump predicted at a news conference that 'Harvard’s going to pay back the money' and Education Secretary Betsy DeVos urged institutions 'with large endowments' to forgo funds from the CARES Act Higher Education Emergency Relief Fund, the university announced that it would, indeed, do just that."

From the Chronicle of Higher Education: "The decision, which follows similar announcements from Stanford and Princeton Universities, came after the Trump administration stepped up pressure on elite universities to forgo the aid that Congress had set aside for all higher-education institutions that receive federal money."

Read Harvard's full statement on the matter here.

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