The Trump administration imposed fresh restrictions on Friday on Harvard\u2019s access to federal funds, opening a new front in its unprecedented crackdown on the prestigious US university.<\/p>\n
The Department of Education announced in a statement that it has placed Harvard under \u201cheightened cash monitoring (HCM) status\u201d, saying there were \u201cgrowing concerns regarding the university\u2019s financial position\u201d.<\/p>\n
It cited the administration\u2019s own accusations of civil rights violations at the university as creating uncertainty over future funding, as well as Harvard\u2019s move to issue bonds and lay-off employees.<\/p>\n
The status shift requires the university to use its own funds to pay out student financial aid packages that federal officials have promised, with the school later able to seek reimbursement from the government.<\/p>\n
\u201cStudents will continue to have access to federal funding, but Harvard will be required to cover the initial disbursements as a guardrail to ensure Harvard is spending taxpayer funds responsibly,\u201d the department wrote.<\/p>\n
Additionally, federal officials are requiring Harvard to \u201cpost an irrevocable letter of credit for US$36 million\u201d to \u201ccover potential liabilities and ensure that Harvard meets its financial obligations to both students and the department\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"The Trump administration imposed fresh restrictions on Friday on Harvard\u2019s access to federal funds, opening a new front…\n","protected":false},"author":2,"featured_media":169152,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[19164,23,1280,8731,21550,101590,78456,101584,101583,27807,101586,2001,3,101587,9805,21,19,22,20,25,101588,101589,24,101585],"class_list":["post-169151","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-states","tag-academia","tag-america","tag-antisemitism","tag-boston","tag-cambridge","tag-civil-rights-violations","tag-department-of-education","tag-federal-agencies","tag-federal-funds","tag-harvard","tag-jewish-students","tag-massachusetts","tag-news","tag-pro-palestinian-protests","tag-the-trump-administration","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-us-department-of-health-and-human-services","tag-us-university","tag-usa","tag-woke-ideology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/169151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=169151"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/169151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/169152"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=169151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=169151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=169151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}