Trump government imposes fresh financial limits on Harvard due to financial worries
The Trump administration has escalated its campaign against Harvard University, placing new restrictions on the prestigious institution's access to federal student aid. The US Department of Education has accused Harvard University of fostering antisemitism and left-wing ideology, and has placed the university on "heightened cash monitoring" status.
The new restrictions, announced on Friday, September 19, require Harvard University to use its own funds to disburse federal student aid. The Department of Education is also seeking to have Harvard University post a $36 million letter of credit, intended to guarantee the university's financial obligations.
The office is investigating whether Harvard University is illegally considering race in its admissions process. The Department of Education did not provide specific details about the financial concerns, but the restrictions on Harvard University's access to federal student aid are due to concerns about its financial position.
In recent months, Harvard University has cut spending and conducted layoffs, but the university has never indicated it faced a financial crisis. The Department of Education's Office of Civil Rights warned Harvard University it could face further enforcement action.
Harvard University, with a US$53 billion endowment, has been a target of President Trump's administration's campaign to tie federal funding to changes at universities. The name of the leadership person at Harvard University who was to give an official statement regarding the US government's announced restrictions and the OCR investigation is Alan M. Garber, the current President of Harvard University.
The campaign against Harvard University was not met with a response from the university regarding a request for comment from the Department of Education. The restrictions on Harvard University's access to federal student aid mark a significant escalation in the Trump administration's campaign against the institution.
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