Posted on 04/22/2020 8:38:59 AM PDT by LibWhacker
WASHINGTON, April 21 (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.
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 direct 100% of the funds to financial assistance to students, and will not be using any of the funds to cover institutional costs."
Trump said late on Tuesday that Harvard's endowment system should be looked at.
"Harvard should give back the money now. Their whole "endowment" system should be looked at", the U.S. president said in a tweet, which did not give further details
(Excerpt) Read more at news.trust.org ...
I blame them. They could have said “No”. Their endowment is $40,900,000,000.00...the largest in the world. These leftists could say no to stealing taxpayers’ money. Pathetic “elites”.
How many students at Harvard need “financial assistance?”
Most are elitists from wealthy families. Who are they fooling?
“I blame them. They could have said “No”. Their endowment is $40,900,000,000.00...the largest in the world. These leftists could say no to stealing taxpayers’ money. Pathetic “elites”.”
Should Trump Hotels turn down any bailout money?
I do understand Trump’s point but endowment money usually has conditions put on it by the donors. Conditions that are legally binding. Also the endowments are likely not just sitting there in a local bank but are invested. As long as the money goes to help students who need it I’m not getting all het up about it.
All endowments? All colleges? All universities? Because that is what would happen. The schools you approve of would not be exempt.
Could have said “No”.
They were not offered the money and refused, they requested it and got it.
Big dif
Prissy elites who steal money from hard working people everyday
End govt participation in student loans system.
That's right! Give it BACK ! NOW !
Who cares because when all that paper is worthless they will just have a few tons of it more than me.
according to a guy who was just on fox news cavuto, the treasury wrote the certification specs for the bill and the specs do not disallow large companies from applying for the bailout loans, so therefore the treasury screwed up. the guy says that there is a chance to fix the problem for the second wave of bailout money.
fwiw...
The fact remains that they are a major center of leftist thinking who have an endowment of $40,900,000,000.00...the largest endowment in the world. These leftist bums are stealing money from the taxpayers. What integrity-free, worthless a**es.
Like most colleges and universities, Harvard has been allocated funds as part of the CARES Act Higher Education Emergency Relief Fund.
That is a separate program from the PPP designed to help small businesses retain employees amid the pandemic.
It is disgusting that these people thought they were entitled to this. We need a complete list and any of them who don’t give it back should not be patronized. Don’t announce a boycott, just don’t give them any more of your money. And Harvard? Stop all grant money. Every single dime and audit them to make sure every gift, every dollar has been handled properly. Also give serious thought to limiting deductions on universities and colleges with excessive endowments.
That’s what I would like to know!
Amen. If wealth taxes are a good idea, then imposing the first one on Harvard as an experiment will prove it.
Hopefully at todays presser this will be brought up.
Will be interesting to hear the reply
“ Who cares”
I do. Republicans shouldn’t be approving any money for universities until they open up to diverse points of view, and also lower tuition and put a cap on tuition increases
But the Republican establishment is a swamp, so I’m not surprised they’re not doing any of this. Mitch McConnell is the ultimate swampster
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