People across the country were alarmed and outraged this week to learn that Harvard was receiving $9 million in Coronavirus relief despite having a $40 billion dollar endowment.
On Tuesday, President Trump made it clear that he expects Harvard to pay that money back.
FOX News reports:
Trump says he’ll ask Harvard to return coronavirus relief money
President Trump accused Harvard University of “taking” money from the federal government as part of the Paycheck Protection Program under the CARES Act, intended to benefit small businesses and said he will be asking that they pay it back.
“Harvard is going to pay back the money. They shouldn’t be taking it,” Trump said Tuesday, taking aim at the university as the White House came under scrutiny after a number of large businesses received money from the $350 billion relief fund, leaving small businesses out as the coffers ran dry last week.
“I’m not going to mention any other names, but when I saw Harvard — they have one of the largest endowments anywhere in the country, maybe in the world. They’re going to pay back the money,” he added.
Harvard University denied applying for loans intended for small businesses straining under the coronavirus pandemic and said it received funds as part of a separate fund under the CARES Act for academic institutions.
“Like most colleges and universities, Harvard has been allocated funds as part of the CARES Act Higher Education Emergency Relief Fund,” the university said in a statement, adding that 100 percent of the money will be used to provide direct assistance to students facing urgent financial needs due to COVID-19.
See the video below:
Hands on and very good @realDonaldTrump
'I’m going to request it."
'Harvard’s going to pay back the money. They shouldn’t be taking it…they have one of the largest endowments anywhere in the country, maybe the world, and they’re going to pay back that money.'#COVID19 pic.twitter.com/ZSmSCZ0uQt
— Heather Champion (@winningatmylife) April 21, 2020
Harvard had no business taking any of this money.
They are wealthier than many countries.