Harvard University said Tuesday it does not intend to return $8.6 million in federal coronavirus aid despite President Trump’s demand to do so.
“I want Harvard to pay the money back, OK?” Trump said during a press conference on Tuesday when the topic of large institutions receiving money meant for small businesses came up. “If they won’t do that, then we will do something else.”
“They have to pay it back,” he added. “I don’t like it. This is meant for workers — this isn’t meant for one of the richest institutions.”
Trump pointed out that the university has “one of the largest endowments anywhere in the country, maybe in the world. … They’re going to pay back that money.”
Harvard pushed back on the president later that day with a statement indicating it doesn’t plan on returning the more than $8 million it received.
In a statement, the university said it’s not accurate to say that the university received the funds through a small business program.
“Harvard did not apply for, nor has it received any funds through the U.S. Small Business Administration’s Paycheck Protection Program (PPP) for small businesses,” the university tweeted.
(1/5) Harvard did not apply for, nor has it received any funds through the U.S. Small Business Administration’s Paycheck Protection Program (PPP) for small businesses. Reports saying otherwise are inaccurate.
— Harvard University (@Harvard) April 21, 2020
“Like most colleges and universities, Harvard has been allocated funds as part of the CARES Act Higher Education Emergency Relief Fund. Harvard has committed that 100% of these emergency higher education funds will be used to provide direct assistance to students facing urgent financial needs due to the COVID-19 pandemic,” Harvard wrote in a series of tweets.
The statement went on to say that the $8.6 million in relief funding “will be on top of the support the University has already provided to students — including assistance with travel, providing direct aid for living expenses to those with need, and supporting students’ transition to online education.”
Harvard’s endowment is listed at almost $41 billion, according to Forbes.
“Thanks to Harvard for my master’s degree,” Republican Arizona Senator Martha McSally said on Twitter. “But @tedcruz and @Greta are right: give it ALL back. Use your $40 billion endowment to help struggling students.”
Thanks to Harvard for my master’s degree. But @tedcruz and @Greta are right: give it ALL back. Use your $40 billion endowment to help struggling students. https://t.co/7hTKkMjgFz
— Martha McSally (@SenMcSallyAZ) April 22, 2020
