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Harvard University is filling the heat as the Trump administration
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tightens the reins on federal support for higher education. The White House has already frozen billions in federal research grants
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which the Wall Street Journal says could lead to a budget shortfall
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Congress is also considering a big jump in the tax on university endowments
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from 1.4 to 8 percent. That could cost Harvard hundreds of millions a year
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and even with a $53 billion endowment, most of Harvard's funds are tied up
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restricted by donors for specific uses. In other words, only a portion of that money can cover day-to-day operations
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Harvard's expenses jumped by $515 million in 2024, now totaling $6.4 billion
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To cut back, the school has frozen hiring, canceled raises, and even reduced the president's salary by 25%
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In April, Harvard borrowed $750 million and pulled $250 million from cash reserves to keep research going
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On top of the budget battle, the university now faces a federal civil rights violation
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On Monday, three agencies, including the Justice and Education Departments, accused Harvard of failing to protect Jewish and Israeli students
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The formal notice of violation could mean a lawsuit or force Harvard into a deal with the Trump administration
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For Straight Arrow News, I'm Kaylee Carey. For the full story, head to SAN.com or download the Straight Arrow News mobile app today
