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3h ago

Education Department Tightens Financial Controls on Harvard, Demands $36 Million Bond

The move forces Harvard to prepay federal aid under a stricter cash-monitoring status.

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Im Streit mit Harvard hat die US-Regierung der renommierten Eliteuniversität neue Beschränkungen für den Zugang zu Bundesmitteln auferlegt.
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Overview

  • The Trump administration placed Harvard under heightened cash monitoring, citing concerns about the university’s financial condition and alleged civil-rights violations.
  • Harvard must disburse student aid from its own funds before seeking reimbursement, though students remain eligible for federal support.
  • The Education Department ordered an irrevocable $36 million letter of credit to cover potential liabilities and ensure obligations are met.
  • Officials opened a new financial review and warned of further enforcement if Harvard does not supply additional admissions data showing race is no longer considered.
  • A federal judge in Boston this month ordered previously frozen research funds exceeding $2 billion to be restored, underscoring an ongoing legal and administrative standoff.