- Harvard University has actually declined President Donald Trump’s need that it repay an $8 million check it received to assist reduce the impact of the coronavirus.
- Harvard denied this, saying the cash was drawn from a fund developed for higher-education institutions.
- ” Harvard has actually committed that 100%of these emergency greater education funds will be used to provide direct assistance to trainees facing urgent monetary needs due to the COVID-19 pandemic,” the university stated in a statement.
Harvard University on Tuesday stated it had no plans to return an $8.6 million federal check it had gotten to alleviate the monetary impact of the coronavirus pandemic– turning down President Donald Trump’s earlier demand that it return the payment.
At Tuesday’s White House coronavirus rundown, Trump stated that in light of Harvard’s $41 billion endowment, he would be seeking a payment of the stimulus grant, which he suggested came from a federal fund for small companies.
” I want Harvard to pay the cash back, OK?” Trump said. “If they won’t do that, then we will do something else.
” They have to pay it back, I do not like it. This is indicated for employees– this isn’t meant for among the richest institutions.”
In a Tuesday statement, Harvard stated the payment would not be used to cover institutional expenses however to help trainees experiencing “immediate financial needs due to the fact that of the pandemic.”
— Harvard University (@Harvard) April 21, 2020
Harvard stated the money it received was dispersed as part of the Greater Education Emergency Relief Fund, which is calculated on the basis of how lots of lower-income students are registered at an institution.
The Payment Protection Program for little businesses– which was developed alongside the higher-education relief fund as part of Congress’ $2.3 trillion stimulus plan– has been besieged by controversy.
While bigger companies have actually gotten bailouts from the fund, some of the smaller services it was designed to assist received nothing before the program ran out of money.
The pandemic and occurring statewide lockdowns and social-distancing measures have devastated American services, with 22 million Americans filing for unemployment in the past four weeks.
