Washington, Apr 23: Harvard University said it would not accept money from the CARES Act Higher Education Emergency Relief Fund, in the wake of US President Donald Trump's call for the university to return the funds. "Harvard will not accept funds from the CARES Act Higher Education Emergency Relief Fund.
Like most colleges & universities, Harvard has been allocated funds as part of the CARES Act. Harvard did not apply for this support, nor has it requested, received or accessed the funds," Harvard said in a statement on Wednesday. Harvard said it worries that the intense focus by politicians -without mentioning Trump by name - and others on Harvard in connection with this programme may undermine participation in a relief effort to help students and institutions whose financial challenges in the coming months may be most severe.
During his Wednesday press conference, Trump thanked the university for declining the relief money, CNBC reported. The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law by Trump last month allocated Harvard with $8.6 million, according to a report from the Harvard Crimson. The funding was supposed to help higher education institutions cover fundamental expenses such as course materials, technology, food and housing.
On Tuesday, Trump called out large companies and private higher education institutions like Harvard for taking federal loans intended to assist small businesses. 'Harvard is going to pay back the money. And they shouldn’t be taking it. They have one of the largest endowments anywhere in the country, maybe in the world, I guess.
And they’re going to pay back that money, ' Trump said during his evening news briefing on Tuesday. Harvard said it will inform the Department of Education of its decision and 'encourage the department to act swiftly to reallocate resources previously allocated to Harvard.' It hopes that 'special consideration will be given to Massachusetts institutions that are struggling to serve their communities,' the university added. (UNI)