President Trump said Tuesday he’s going to make sure that Harvard University gives back nearly $9 million it received in coronavirus disaster aid from the federal government.
“Harvard’s going to pay back the money,” Mr. Trump said at the daily White House coronavirus task force briefing. “When I saw Harvard … they have one of the largest endowments anywhere in the country.”
Harvard University, which has a $40 billion endowment, obtained nearly $9 million in coronavirus relief as part of the $2.2 trillion aid package approved by Congress last month.
The federal government required about half of the $9 million to be reserved for emergency financial aid grants to students.
The CARES Act allocated about $14 billion for colleges and universities affected by the crisis.
A university spokesman said Harvard received the money through the Higher Education Emergency Relief Fund, and that half of the money was to be reserved for grants to students.
“Harvard is actually allocating 100% of the funds to financial assistance for students to meet their urgent needs in the face of this pandemic,” said spokesman Jason Newton.