Harvard won’t take federal relief money

After being publicly scolded by President Trump and facing a growing backlash over its access to federal stimulus funds, Harvard University on Wednesday announced that it would not apply for the emergency relief.

Harvard joined two other elite universities, Stanford and Princeton, is opting out of the stimulus money.

In a statement Harvard said it was concerned “that the intense focus by politicians and others on Harvard in connection with this program may undermine participation in a relief effort that Congress created and the President signed into law for the purpose of helping students and institutions whose financial challenges in the coming months may be most severe. As a result of this, and the evolving guidance being issued around use of the Higher Education Emergency Relief Fund, Harvard has decided not to seek or accept the funds allocated to it by statute.”

Harvard, with a $41 billion endowment, has borne the brunt of criticism over the use of taxpayer money to help wealthy schools cope with the financial toll of the coronavirus.