Donald Trump vowed that Harvard would be expected to pay back their $8.7 million in federal aid received from coronavirus rescue funds.
“Harvard’s going to pay back the money and they shouldn’t be taking it,” Trump said bluntly during the White House press briefing.
Harvard received a grant from the Coronavirus Aid, Relief and Economic Security (CARES) Act, even though it already has a $41 billion endowment fund.
The money was allocated to Harvard from the $12 billion in funds allotted in the CARES act as part of the Higher Education Emergency Relief Fund. (The Higher Education Relief Fund is separate from the Paycheck Protection Program, that ran out of money last week)
But Harvard’s grant prompted criticism of the bill, which was rushed forward in Congress to help support small businesses and colleges who needed the funds, simply to stay afloat. – READ MORE
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