New restrictions on Harvard: Trump admin limits aid access to Ivy League; cites financial concerns – The Times of India

US President Donald Trump’s administration on Friday escalated its marketing campaign in opposition to Harvard College by putting new restrictions on the Ivy League faculty’s entry to federal funds for pupil help, citing issues concerning the “monetary place” of the nation’s oldest and wealthiest college.The US Division of Training mentioned Harvard has been moved to a “heightened money monitoring” standing, which requires the college to make use of its personal cash to disburse pupil help earlier than being reimbursed. It additionally directed Harvard to offer a $36 million letter of credit score to ensure its monetary obligations, pointing to the college’s latest bond issuances and employees layoffs as causes for concern, information company Reuters reported.“Whereas Harvard stays eligible to take part within the federal pupil help program for now, these actions are mandatory to guard taxpayers,” Training Secretary Linda McMahon mentioned. The division additional warned that Harvard may lose entry to federal pupil help if it fails to adjust to information requests from the Workplace of Civil Rights, which is investigating whether or not the college nonetheless considers race in admissions regardless of the Supreme Courtroom’s 2023 ruling in opposition to affirmative motion.Harvard, with an endowment of $53 billion, has denied being in monetary bother however acknowledged that federal actions have strained its price range. In July, it estimated the influence of the Trump administration’s measures at practically $1 billion yearly. Earlier this month, a federal decide dominated that the federal government had unlawfully terminated greater than $2 billion in analysis grants awarded to Harvard.The restrictions are the newest step in a bigger confrontation. The Trump administration has accused Harvard of harboring “radical left” ideologies and failing to curb antisemitism, whereas focusing on its funding, admissions insurance policies and worldwide pupil applications.Harvard has mounted a number of authorized challenges, calling the measures illegal and politically motivated. It has sued over frozen analysis grants and directives threatening worldwide college students, with courts granting momentary aid in some instances.Trump has personally taken purpose on the college. Throughout a latest cupboard assembly, he mentioned Harvard ought to pay “nothing lower than $500 million,” accusing the establishment of getting “been very unhealthy.”