CNN
Tapping into the endowment may be impractical for several reasons, including that some of it is legally restricted, but also because some of the unrestricted money is tied up in illiquid assets…
Harvard University’s finances have become the latest target of the Trump administration – and experts say the hits could hurt.
In the past week, the administration has threatened Harvard University’s funding from multiple angles: freezing billions in federal funds, and potentially revoking its non-profit tax status and its ability to enroll foreign students.
More than $2.2 billion in federal grants and contracts have been frozen and even more could be siphoned away if the other pressures materialize. Harvard Medical School is preparing for possible layoffs and the School of Public Health, which received three stop-work orders on research this week, is winding down two leases in off-campus buildings.
While Harvard is the nation’s oldest and richest university with a massive $53.2 billion endowment – a deep coffer that could help cushion any cuts – experts and a review of Harvard’s financials show the challenges with digging into that endowment and the seriousness of the Trump administration’s pressure.