Harvard Officials Claim Federal Actions Could Cost the School One Billion Annually
“The unprecedented challenges we face have led to disruptive changes, painful layoffs, and ongoing uncertainty about the future.”
Everyone talks about Harvard’s huge endowment, but this would definitely hurt them.
The Harvard Crimson reports:
Harvard Officials Say Federal Actions Could Cost the University $1 Billion Annually
Harvard President Alan M. Garber ’76 warned Monday that the combined financial impact of sweeping federal policy changes — including research funding cuts, threats to international students, and a sharp increase in the tax on endowment income — could cost the University up to $1 billion annually.
In a letter to University affiliates, Garber and other senior administrators warned that next year’s budgets will extend and deepen cuts to cope with mounting pressure from the Trump administration’s now months-long campaign, including the termination of more than $2 billion in research funding.
“The unprecedented challenges we face have led to disruptive changes, painful layoffs, and ongoing uncertainty about the future,” the letter read.
Garber announced in the letter that Harvard will extend its hiring freeze for faculty and staff — first issued in March — with exceptions only for roles deemed essential to the fulfillment of grant- or gift-funded projects. Administrators have also instructed each school and unit to continue reducing expenditures, streamlining administrative functions, and making “strategic, structural, and sustainable” changes to increase financial flexibility, according to the letter.
The updated budget plans for fiscal year 2026 are expected to be released this week and come in the wake of layoffs at the Harvard Kennedy School, the School of Public Health, and the Medical School, where deans have cited mounting financial strain tied to federal actions.
The letter was co-signed by Harvard Provost John F. Manning ’82, Executive Vice President Meredith L. Weenick ’90, and Chief Financial Officer Ritu Kalra.
In the letter, the officials emphasized that while the University allocated $250 million in bridge funding in May to sustain research through fiscal years 2025 and 2026, additional actions will be necessary to address what they described as “long-lasting declines” in core revenue streams and rising research and teaching costs.
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Comments
I weep for Harvard, NOT
Harvard is paying for their arrogance, I love it.
“Harvard Officials Claim Federal Actions Could Cost the School One Billion Annually”
Stop teasing us!
gop has allowed this welfare system as much as the dems have
maga
They say it like it’s a bad thing.
If I’m a legit STEM Harvard professor I’m looking to bolt. Most could find some good jobs at other schools and start right where they left off. Go to a school that’s not in a DEI suicide pact.
Q: What do you call federal actions that cost Harvard $1 billion annually?
A: A good start.
Aren’t they still paying confirmed serial plagiarist Claudine Gay nearly $1 million a year to be a professor there? Squeeze them harder until they stop wasting money like that.
Harvard can do this the easy way or the hard way. The easy way would be for it to get rid of its DIE program and its antisemitic professors while expelling students who have blocked classes and physically threaten students. The hard way would be to walk away from all government largesse and finance itself, allowing itself to continue as is.
Obese man-child: “Mom pulling me away from suckling on her ample bosom like a blood-filled tick on a deer’s ass could cause me to shed weight and grow up”.
Get rid of your Discrimination, Exclusion, and Injustice department, Chuck.