What Heightened Cash Monitoring Means for Harvard
Key Vocabulary
monitoring /ˈmɒnɪtərɪŋ/
endowment /ɪnˈdaʊmənt/
grant /ɡrænt/
📖 Article
The U.S. Department of Education has put Harvard University on heightened cash monitoring. This means Harvard must pay federal student aid first with its own money and then ask the government to pay it back. The department also wants a $36 million letter of credit to protect taxpayer money.
A federal judge later blocked the administration’s attempt to freeze more than $2 billion in Harvard research grants. Harvard has an endowment of about $53 billion, but the university says federal actions have led to layoffs and budget cuts. Students will still receive federal aid for now, but the school faces financial uncertainty.
❓ Quiz
💬 Discussion
Do you worry when you hear about money problems at a university? Why or why not?
Have you ever needed to wait for money for a school project? What happened?
What do you think students feel when their school makes budget cuts?