Tag: Harvard

Harvard to Pay Back Coronavirus Stimulus Money, Trump Says

Harvard University plans to repay the federal government money it received as part of a stimulus package to help small businesses struggling with coronavirus lockdowns, U.S. President Donald Trump said on Tuesday, after the funding for the university drew fire.

Speaking at a daily briefing at the White House, Trump also said 20 states were moving ahead quickly to reopen following the lockdown. 

On the subject of the loans, Harvard reportedly nettled nearly $9 million in aid through the Paycheck Protection Program.

“Harvard’s going to pay back the money, they shouldn’t be taking it,” Trump said. “They have one of the largest endowments anywhere in the country, maybe the world I guess, and they’re going to pay back that money.”

He added that some large companies, unnamed in his briefing, would also pay back funds obtained through the pandemic loan program. Harvard has an endowment worth more than $40 billion,

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Harvard won’t ‘seek or accept’ federal stimulus money after calls from Trump to return cash

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Harvard University announced in a statement Wednesday that it will no longer “seek or accept” aid from the CARES Act Higher Education Emergency Relief Fund, one day after President Trump demanded the Ivy League school return federal relief cash.

The prestigious university had received nearly $9 million in federal funds through one of the government’s relief programs doled out through the Department of Education, but the allocation drew backlash from Trump.

The president on Tuesday claimed the university was receiving money through the Paycheck Protection Program, which is intended to help struggling small businesses. Harvard has denied ever applying for or receiving any funds through PPP, and has clarified that the type of funding it received was given to most other U.S. colleges and universities, to be used for direct financial assistance to

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Harvard says to keep stimulus grant after Trump vows it will be returned

WASHINGTON (Reuters) – Harvard University said it plans to keep an $8.6 million grant it received as part of a stimulus package to blunt the economic impact of the coronavirus lockdown, contradicting U.S. President Donald Trump who pledged the university would return it.

U.S. President Donald Trump reacts to a question from a reporter during the daily coronavirus task force briefing at the White House in Washington, U.S., April 21, 2020. REUTERS/Jonathan Ernst

Speaking at a press briefing on Tuesday, Trump pointed to the institution’s ample endowment – worth nearly $41 billion – as the reason why it should hand over the money.

“Harvard is going to pay back the money and they shouldn’t be taking it,” Trump said, adding that Harvard has one of the largest endowments “in the country, maybe in the world.”

In a statement issued moments after the briefing ended, however, Harvard said it planned “to

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