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24m ago

Education Department Puts Harvard on Heightened Cash Monitoring, Demands $36 Million Backstop

Officials cite a Title VI finding, unresolved records requests, planned borrowing.

FILE - People take photos near a John Harvard statue, left, on the Harvard University campus, Jan. 2, 2024, in Cambridge, Mass. (AP Photo/Steven Senne, File)
Banners hang from the side of Memorial Church on the first day of classes at Harvard University.
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The Trump administration has imposed fresh restrictions on Harvard's access to federal funding

Overview

  • Harvard must front federal student-aid disbursements and then seek reimbursement, while students remain able to access aid.
  • Federal Student Aid is requiring an irrevocable $36 million letter of credit or other acceptable financial protection.
  • The Office for Civil Rights issued a denial-of-access letter giving Harvard 20 days to provide admissions documents for a Title VI review.
  • The department says the oversight stems from three triggers: a Title VI violation determination, noncompliance with OCR information requests, and concern over potential issuance of more than $1 billion in bonds.
  • The move continues a broader campaign that included frozen research grants later partly restored by a Boston judge ordering nearly $2.2 billion unfrozen, which the administration says it will appeal.