[Ed. – So rather than going to a small business that actually needs the money, Harvard, with a $40 billion endowment and professors that keep getting arrested for giving research secrets to the Chinese Government takes $9,000,000 they don’t need so a small business can’t. –Donald Trump, Jr.]
Harvard University will receive nearly $9 million in aid from the federal government through the Coronavirus Aid, Relief, and Economic Security Act, the Department of Education announced last week.
The CARES Act — the largest economic stimulus package in American history — was signed into law on March 27. It allocates nearly $14 billion to support higher education institutions during the ongoing coronavirus pandemic.
Of the $8,655,748 Harvard is slated to receive, the government has mandated that at least half — $4,327,874 — be reserved for emergency financial aid grants to students.
The Department of Education will distribute the first $6.28 billion to colleges and universities to cover expenses such as course materials, technology, food, and housing students have incurred “related to disruptions in their education due to the COVID-19 outbreak,” according to a April 9 press release.