Trump Administration Halts $2.2 Billion In Harvard Grants After University Says Don't Dictate What We Can Teach Or Who We Admit

Comments
Loading...

On Monday, the Trump administration decided to suspend $2.2 billion in grants to Harvard University. This decision comes after the university rejected demands by the administration.

The demands included the removal of diversity, equity, and inclusion (DEI) programs and the screening of international students for ideological concerns, which Harvard refused to comply with, reported CNBC.

Harvard’s rejection of these demands has put nearly $9 billion in federal funding at risk. The White House has also issued similar threats to other universities, including Columbia, Cornell, and Northwestern.

See Also: Trump Coin Tanks 36%, Even As Melania Trump Launches Her Own Token: Top Analyst Says His Short Is ‘Going Very, Very Well’

Harvard President Alan Garber stated, “No government — regardless of which party is in power — should dictate what private universities can teach, whom they can admit and hire, and which areas of study and inquiry they can pursue.” The U.S. General Services Administration and Department of Education responded by detailing the freeze of $2.2 billion in grants and $60 million in contract value to Harvard.

The federal agencies emphasized the need for universities to uphold civil rights laws, stating, “The harassment of Jewish students is intolerable.” The White House, through spokesperson Harrison Fields, reiterated its stance on ensuring federal funds do not support racial discrimination, according to the report.

Harvard has a $53 billion endowment, which equips it better to stave off financial pressure from the Trump administration. Tax exemptions for private universities have been questioned, including by Billionaire hedge fund manager Bill Ackman.

Photo Courtesy: f11photo on Shutterstock.com

Did You Know?

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

Got Questions? Ask
Which universities may face funding cuts next?
How will Harvard's endowment influence its future?
What impact on educational funding could this trigger?
Which education-focused ETFs could benefit from this shift?
How might other universities react to these demands?
Will private university stocks be affected by funding freeze?
Could state universities see increased enrollment due to this?
What are the potential impacts on DEI programs nationwide?
How might hedge fund managers exploit this situation?
What risks do educational institutions face from government pressure?
Market News and Data brought to you by Benzinga APIs

Posted In: