Harvard Returning $9M In Aid After Trump Calls Out University

CAMBRIDGE, MA — Harvard University said it will return nearly $9 million in federal funding a day after President Trump called on one of the world's most prestigious universities to reject the money.

"We have previously said that Harvard, like other institutions, will face significant financial challenges due to the pandemic and economic crisis it has caused," Harvard said in a statement.
"We are also concerned however, that the intense focus by politicians and others on Harvard in connection with this program may undermine participation in a relief effort that Congress created and the President signed into law for the purpose of helping students and institutions whose financial challenges in the coming months may be most severe."

Harvard had been given $8.6 million in aid through the CARES Act. The money was meant to help higher education institutions that were struggling with financial hardships brought on by the coronavirus. Some of the money was meant for grants to help students.

Trump on Tuesday singled out Harvard — and its $41 billion endowment — calling for the university to return the money.

"Their whole “endowment” system should be looked at!" he later tweeted.

While Trump appeared to confuse the CARES Act funding with the small business protection program, others in his administration echoed his stance.

Harvard said it hopes the money goes to other Massachusetts colleges and universities.

"While we understand any reallocation of these resources is a matter for the Department of Education, we hope that special consideration will be given to Massachusetts institutions that are struggling to serve their communities and meet the needs of their students through these difficult and challenging times," Harvard said.