Trump Administration Slaps Harvard With New Federal Funding Limits
The Trump administration has imposed fresh restrictions on Harvard University’s access to federal funds, intensifying its clash with one of America’s most prestigious institutions. In a statement Friday, the Department of Education announced that Harvard has been placed under “heightened cash monitoring (HCM) status” due to what it called “growing concerns regarding the university’s financial position.” The shift means Harvard must first disburse student financial aid from its own accounts before later seeking reimbursement from Washington. “Students will continue to have access to federal funding, but Harvard will be required to cover the initial disbursements as a guardrail to ensure Harvard is spending taxpayer funds responsibly,” the department said. Federal officials also ordered Harvard to post an irrevocable $36 million letter of credit to cover potential liabilities. Background to the crackdown The move is the latest escalation in the Trump […]