Harvard rejects US relief aid after President Donald Trump says 'pay that money back'

Days after US President Donald Trump vowed that Ivy League college will return money 'intended for small business loans', Harvard University has anunced that it will turn down USD 8.7 million in federal coronavirus relief. It followed similar actions at Stanford and Princeton universities, which said y will reject millions of dollars in federal funding amid growing scrutiny of wealthy colleges. 

Officials at Harvard said that school still faces significant financial challenges due to pandemic but will refuse money over concerns that intense focus by politicians will undermine relief program created by Congress. "While we understand any reallocation of se resources is a matter for Department of Education, we hope that special consideration will be given to Massachusetts institutions that are struggling to serve ir communities and meet needs of ir students through se difficult and challenging times," Harvard said in a statement. 

Congress is offering USD 14 billion to nation's colleges and universities as part of a USD 2.2 trillion rescue pack.  Schools were allotted varying sums based on ir size and number of students y teach from poorer backgrounds.

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Trump insists Harvard pay back stimulus pack

US President Donald Trump has insisted that Harvard, world's wealthiest university, payback millions it received under a massive government stimulus pack meant to cushion ecomy from coronavirus pandemic.

"Harvard, you pay that money back. I want Harvard to pay money back, ok? And if y don't do that, n we'll do something else," Trump said at his daily briefing on pandemic on Tuesday. "I don't like it at all. This is meant for workers. This isn't meant for one of richest institutions ... in world," billionaire president continued.

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'Harvard committed to spending its entire share on students'

Harvard h previously committed to spending its entire share on students, and on Wednesday said it is fully committed to providing financial support that it has promised to its students.  It also said evolving guidance around funding factored into its decision.  More than 300 colleges were granted larger shares than Harvard, including some that also rank among nation's wealthiest. 

Stanford, which has an endowment of nearly USD 28 billion, said it told Education Department on Monday it would refuse USD 7.4 million allocated in pack.  school said it wanted to free funding to be directed to smaller colleges that w face an existential threat because of pandemic.  Stanford says it's still fully committed to providing financial relief to students. 

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Officials at Princeton said y will reject USD 2.4 million in aid, but t because of pressure from DeVos.  school said it me decision after Education Department issued new guidelines forbidding funding from going to students in federal Deferred Action for Childhood Arrivals program for immigrants who were brought to country illegally.  school, which has a USD 26 billion endowment, said rules were inconsistent with Princeton's values. 

University of Sourn California, which h an endowment of USD 5.7 billion last year, was allotted nearly USD 20 million. Columbia University, with an endowment of USD 11 billion, was allotted nearly USD 13 million. Major public universities received many of largest shares, including Arizona State University, which was granted USD 63.5 million, and Pennsylvania State University system, with USD 55 million. 

(inputs from AP)

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