Trump Administration Questions Harvard’s Financial Stability
“The government letter asking for the information does not include any specific allegations that Harvard has failed to meet its obligations.”
People have been asking questions about the true size of Harvard’s endowment for months now.
The New York Times reports:
Trump Officials Question Harvard’s Stability, Saying Federal Inquiries Raise Financial Risk
The Trump administration on Friday opened a new front in its pressure campaign on Harvard University, demanding proof of the financial stability of the nation’s oldest and wealthiest college as well as a guarantee that federal debts will be paid if the school “closes or terminates classes.”
The government letter asking for the information does not include any specific allegations that Harvard has failed to meet its obligations. It comes after the administration has spent months pointing to the university’s wealth and “colossal endowment” as a reason to question its reliance on federal research funding.
Still, the administration is insisting on a guarantee of more than $36 million, representing about 30 percent of the federal financial aid that has flowed to the university during the past year, because of financial risks posed by more than a dozen government investigations targeting the university.
Harvard officials have never suggested that the university’s financial footing is in any immediate danger. University leaders have, however, expressed concerns about the potential long-term effect of the monthslong battle with the administration, which has resulted in the freezing of billions of dollars in federal research funds.
In a separate letter, the administration on Friday also warned Harvard about additional enforcement actions from the Education Department’s Office for Civil Rights unless the university provides more documents related to its admissions policies.
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