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Harvard, America's Richest University, Grabs Nearly $9 Million In Taxpayer CARES Aid

dirtpoorchris

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Harvard made over 300 million dollars in suprlus profit last year.

They now are taking 9 million dollars in taxpayer aid to cover the cost of tuition loss.

Why doesn't this prestigious school use its own money to STAY PRESTIGIOUS?

Why dont they spend 9 million from that 300 million surplus profit they made?

Harvard, America'''s Richest University, Grabs Nearly $9 Million In Taxpayer CARES Aid

Harvard University, already supported by a massive $41 billion endowment, is getting nearly $9 million in taxpayer aid from the federal Coronavirus Aid, Relief and Economic Security Act, the U.S. Department of Education announced.Under the terms of the payout from CARES’ Higher Education Emergency Relief Fund, at least half of the $8.7 million earmarked for Harvard must be reserved for emergency financial grants to students, according to the Harvard Crimson, which was the first to report the aid.
But at least some of that money — which could be used to cover tuition payments and course materials — would also end up in Harvard coffers.


Time to burn down Harvard? :p /sarcasm

Oh ya, also besides this, Harvard has accrued 41 BILLION dollars in endowments/donations/accumulation. And on top of that 41 BILLION dollars and 300 MILLION dollar profit they need to take 9 million from taxpayers......
 
Harvard made over 300 million dollars in suprlus profit last year.

They now are taking 9 million dollars in taxpayer aid to cover the cost of tuition loss.

Why doesn't this prestigious school use its own money to STAY PRESTIGIOUS?

Why dont they spend 9 million from that 300 million surplus profit they made?

Harvard, America'''s Richest University, Grabs Nearly $9 Million In Taxpayer CARES Aid




Time to burn down Harvard? :p /sarcasm

Oh ya, also besides this, Harvard has accrued 41 BILLION dollars in endowments/donations/accumulation. And on top of that 41 BILLION dollars and 300 MILLION dollar profit they need to take 9 million from taxpayers......

They do spend a lot of their own money. I assume these emergency grants for students accounting for half the funds is for things like getting an airplane ticket home when your grandpa kicks the bucket from coronavirus.
 
They do spend a lot of their own money. I assume these emergency grants for students accounting for half the funds is for things like getting an airplane ticket home when your grandpa kicks the bucket from coronavirus.

If you read some of the comments around this soccerball moms are furious. Their children are just starting to go without food around now while people with 41 billion dollar endowments just arent meeting the standard and need a helping hand while moms and their children begin to starve. They take 5% of that endowment a year and made 300 million profit from last years campus so that leaves them with 2.3 billion dollars to play with this year. and still have 39 billion in the banks and markets. Go look at the comments around this story average americans are PISSED because they are finally seeing less food while these greedy ****s stuff their face.

plunder.jpg
 
Is what they are doing illegal? Otherwise, sounds smart.
 
Harvard made over 300 million dollars in suprlus profit last year.

They now are taking 9 million dollars in taxpayer aid to cover the cost of tuition loss.

Why doesn't this prestigious school use its own money to STAY PRESTIGIOUS?

Why dont they spend 9 million from that 300 million surplus profit they made?

Harvard, America'''s Richest University, Grabs Nearly $9 Million In Taxpayer CARES Aid




Time to burn down Harvard? :p /sarcasm

Oh ya, also besides this, Harvard has accrued 41 BILLION dollars in endowments/donations/accumulation. And on top of that 41 BILLION dollars and 300 MILLION dollar profit they need to take 9 million from taxpayers......



Under the terms of the payout from CARES’ Higher Education Emergency Relief Fund, at least half of the $8.7 million earmarked for Harvard must be reserved for emergency financial grants to students, according to the Harvard Crimson, which was the first to report the aid. But at least some of that money — which could be used to cover tuition payments and course materials — would also end up in Harvard coffers. The funds would also likely be spent on extra technology, food and housing costs that students incurred amid “disruptions in their education” due to COVID-19, according to CARES provisions.


Harvard, America'''s Richest University, Grabs Nearly $9 Million In Taxpayer CARES Aid



Shame Trump removed the guy who was supposed to ensure the funds were properly disbursed, huh?

Shame the right is so ardently opposed to heavy investment in public education, including government-run colleges where this wouldn't happen, right?
 
If you read some of the comments around this soccerball moms are furious. Their children are just starting to go without food around now while people with 41 billion dollar endowments just arent meeting the standard and need a helping hand while moms and their children begin to starve. They take 5% of that endowment a year and made 300 million profit from last years campus so that leaves them with 2.3 billion dollars to play with this year. and still have 39 billion in the banks and markets. Go look at the comments around this story average americans are PISSED because they are finally seeing less food while these greedy ****s stuff their face.

View attachment 67278468

So? Most parents get upset that Harvard doesn't think their child is as precious as they think their child is.
 
Harvard made over 300 million dollars in suprlus profit last year.

They now are taking 9 million dollars in taxpayer aid to cover the cost of tuition loss.

Why doesn't this prestigious school use its own money to STAY PRESTIGIOUS?

Why dont they spend 9 million from that 300 million surplus profit they made?

Harvard, America'''s Richest University, Grabs Nearly $9 Million In Taxpayer CARES Aid




Time to burn down Harvard? :p /sarcasm

Oh ya, also besides this, Harvard has accrued 41 BILLION dollars in endowments/donations/accumulation. And on top of that 41 BILLION dollars and 300 MILLION dollar profit they need to take 9 million from taxpayers......

Too many folks in high places have degrees from there. They ought to give it back so small business owners can stay open.
 
Fair Enough, OP, you've convinced me. Let's stop sending federal money to colleges :D
 
Who'll stop the rain?

Harvard made over 300 million dollars in suprlus profit last year.

They now are taking 9 million dollars in taxpayer aid to cover the cost of tuition loss.

Why doesn't this prestigious school use its own money to STAY PRESTIGIOUS?

Why dont they spend 9 million from that 300 million surplus profit they made?

Harvard, America'''s Richest University, Grabs Nearly $9 Million In Taxpayer CARES Aid

Time to burn down Harvard? :p /sarcasm

Oh ya, also besides this, Harvard has accrued 41 BILLION dollars in endowments/donations/accumulation. And on top of that 41 BILLION dollars and 300 MILLION dollar profit they need to take 9 million from taxpayers......

From the OP:

"Harvard University, already supported by a massive $41 billion endowment, is getting nearly $9 million in taxpayer aid from the federal Coronavirus Aid, Relief and Economic Security Act, the U.S. Department of Education announced.Under the terms of the payout from CARES’ Higher Education Emergency Relief Fund, at least half of the $8.7 million earmarked for Harvard must be reserved for emergency financial grants to students, according to the Harvard Crimson, which was the first to report the aid.
But at least some of that money — which could be used to cover tuition payments and course materials — would also end up in Harvard coffers."

end quote/

Yah, we've covered this here before:

1. Endowment monies are typically targeted @ particular expenditures: Library, staff development, lab equipment, buildings - whatever the donor wanted to see happen. As such, programmed funds are restricted; they can't be repurposed unless the donor (or heirs) agree to do so.

2. Harvard is a private school - they're not subject to the rules & regulations that a state-supported school might be subject to.

3. Half the grant money is required to be targeted to emergency financial grants to students.

Or if complying with the stipulations of the CARES funding proves to be too much of a pain for the monies generated, I suppose that Harvard could say to the Feds Thanks, but no thanks. Leaving students on the hook for any emergency financial grants they would have otherwise qualified for. Seems like a harsh lesson to me, but I suppose you're right - that it's never too soon to teach college students that the World can be a hard & bitter taskmaster.

Did Harvard solicit this funding from CARES? Or is it automatic? Reading through the article @ the URL, it sounds like Dept. Ed. simply sent the funding out, with a cover note. Harvard says they've been hit with losses from the economic meltdown resulting from the COVID-19 pandemic. & other schools have been allocated more funding than Harvard.

So what's the beef, exactly?

From the article @ the URL:

"The top 20 universities getting the largest amounts of CARES funds are public institutions. Arizona State University is set to receive the biggest grant: $63 million.

"Among private Ivy League Universities, Columbia University and Cornell University are set to each receive $12.8 million. Yale will get $7 million, and Princeton University expects some $2.5 million, according to the Department of Education’s tally. The department’s list is the first information Americans have about where their federal stimulus money is going."

(My emphasis)

If people are upset about the money going to Harvard, @ least it's going to something useful, as opposed to lining the pockets of large restaurant chains nationwide. Given the obesity, BP, cardiac issues & related rampant in the US, I question the utility of putting more funding into a leading cause of medical problems in the US population.

& while we're @ it: What is surplus profit? I don't know of any university that runs @ a profit. If Harvard has managed to do that, instead of throwing out money, Dept. Ed. should be studying how Harvard does it, & replicating that process across the entire college system in the US, to be followed by applying it to public education K-12.
 
The damage Harvard does to this country is beyond calculation.

I started a thread some time back where Harvard "experts" declared the country has to stay shut down until 2022. If so, the question would be "what country?"
 
Harvard made over 300 million dollars in suprlus profit last year.

They now are taking 9 million dollars in taxpayer aid to cover the cost of tuition loss.

Why doesn't this prestigious school use its own money to STAY PRESTIGIOUS?

Why dont they spend 9 million from that 300 million surplus profit they made?

Harvard, America'''s Richest University, Grabs Nearly $9 Million In Taxpayer CARES Aid




Time to burn down Harvard? :p /sarcasm

Oh ya, also besides this, Harvard has accrued 41 BILLION dollars in endowments/donations/accumulation. And on top of that 41 BILLION dollars and 300 MILLION dollar profit they need to take 9 million from taxpayers......

Dissolution is a wonderful word.
 
The damage Harvard does to this country is beyond calculation.

I started a thread some time back where Harvard "experts" declared the country has to stay shut down until 2022. If so, the question would be "what country?"

The United Masks of America?

The Ashes of the Union?

No Man's Land?
 
Not only should the money be taken back they should be fined. Once again, those with are showing those without what kind of moral character they are really made of. Money is their morals. Absolutely disgusting for any of these places or businesses taking the money they obviously don't need. Greed. The dollar is america's true god.
 
Dept. Ed. is simply doling out the money, as far as I can tell

If anyone's interested in Harvard's history, there's a nice writeup @ Harvard University - Wikipedia

It's important to keep universities going - we'll need trained educated people to help put the country back on its feet when the pandemic ends. & this money is targeted (50%) @ financial emergency assistance to students.
 
The damage Harvard does to this country is beyond calculation.

I started a thread some time back where Harvard "experts" declared the country has to stay shut down until 2022. If so, the question would be "what country?"

You must be a Yali man.
 
Harvard made over 300 million dollars in suprlus profit last year.

They now are taking 9 million dollars in taxpayer aid to cover the cost of tuition loss.

Why doesn't this prestigious school use its own money to STAY PRESTIGIOUS?

Why dont they spend 9 million from that 300 million surplus profit they made?

Harvard, America'''s Richest University, Grabs Nearly $9 Million In Taxpayer CARES Aid




Time to burn down Harvard? :p /sarcasm

Oh ya, also besides this, Harvard has accrued 41 BILLION dollars in endowments/donations/accumulation. And on top of that 41 BILLION dollars and 300 MILLION dollar profit they need to take 9 million from taxpayers......

Southwest88 has already made the essential point, but university finances are complex. I'm not at Harvard, but I know at my own university we've got quite an aggregated endowment. However, we cannot just spend it willy-nilly; most of it is constrained by contract (that is, the money was donated under contract that it be spent for X, whatever X is--like, for example, that it be used to fund the humanities library, or some such). Some is not under contract, but has been promised to various departments for various things, and people depend on the funds for their salaries. I don't know how many people Harvard employs, but I imagine it's rather a lot. I also don't know if you've ever been there, but it's an enormous campus with a great many buildings that require upkeep, and so on. The professors there, as I understand it, are all teaching online classes even now.

Again, I'm not at Harvard and I don't know anyone who is and who knows specifics about their finances. But if you know something about university finances in general, Harvard receiving this money isn't as crazy as it may, at first, sound.
 
Ya im sure a place with admissions scandals to fleece the populace REALLY needs that 9 million as Americans that trusted the system begin to starve.
 
Too many folks in high places have degrees from there. They ought to give it back so small business owners can stay open.

It would help their public image, yes. Rather doubt that they will though.
 
Re: Dept. Ed. is simply doling out the money, as far as I can tell

If anyone's interested in Harvard's history, there's a nice writeup @ Harvard University - Wikipedia

It's important to keep universities going - we'll need trained educated people to help put the country back on its feet when the pandemic ends. & this money is targeted (50%) @ financial emergency assistance to students.

The question left unasked is 'Do we really get trained educated people from an institution bent on liberal / progressive indoctrination?'
 
Money is useful

The question left unasked is 'Do we really get trained educated people from an institution [Harvard] bent on liberal / progressive indoctrination?'

Indoctrination is another Roman Catholic vocabulary item turned to political uses. You (& the World @ large) probably owe the church some royalties there.

From Harvard University - Wikipedia

"Harvard University is a private Ivy League research university in Cambridge, Massachusetts, with about 6,800 undergraduate students and about 14,000 postgraduate students. Established in 1636 and named for its first benefactor, clergyman John Harvard, Harvard is the United States' oldest institution of higher learning.[7] Its history, influence, wealth, and academic reputation have made it one of the most prestigious universities in the world.[8][9][10][11][12][13]

"The Massachusetts Great and General Court authorized Harvard's founding. In its early years, Harvard College primarily trained Congregational and Unitarian clergy, although it has never been formally affiliated with any denomination. Its curriculum and student body were gradually secularized during the 18th century, and by the 19th century, Harvard had emerged as the central cultural establishment among Boston elites.[14][15] Following the American Civil War, President Charles W. Eliot's long tenure (1869–1909) transformed the college and affiliated professional schools into a modern research university;"

(My emphasis - more @ the URL)

Admissions

"As of the 2019–2020 academic year, Harvard College tuition was about $48,000, contributing to about $70,000 in billed costs.[20] Harvard's extensive fundraising allows it to offer one of the most generous financial aid programs in the country, with need-blind admission and 100% of demonstrated financial need met for both domestic and international students.[20] Families with incomes below $65,000 pay nothing for their children to attend, while families earning between $65,000 and $150,000 pay no more than 10% of their annual incomes.[20] Financial aid is solely based on need; no merit or athletic scholarships are offered.[20]"

(My emphasis - same URL)

Presumably, student financial aid is where some of those billions of endowment go to. Harvard mostly self-funds (about $2 billion/year), out of the proceeds of the endowments.

"Since 2016, Narv Narvekar has been the CEO of the endowment.[87] Almost $2 billion annually is distributed from the endowment to fund operations.[87] Harvard's ability to fund its degree and financial aid programs is highly dependent on the performance of its endowment; a poor performance in fiscal year 2016 led to a 4.4% cut in the number of graduate students funded by the Faculty of Arts and Sciences.[88] Endowment income is critical as only 22% of revenue is from tuition, fees, room, and board.[89]"

(My emphasis - same URL)

Harvard alumni:

"Notable people
Alumni

"Main articles: List of Harvard University people, List of Harvard University non-graduate alumni, and List of Nobel laureates affiliated with Harvard University"

(From the same URL - includes a photo gallery of famous alumni, Right & Left.)
 
Harvard made over 300 million dollars in suprlus profit last year.

They now are taking 9 million dollars in taxpayer aid to cover the cost of tuition loss.

Why doesn't this prestigious school use its own money to STAY PRESTIGIOUS?

Why dont they spend 9 million from that 300 million surplus profit they made?

Harvard, America'''s Richest University, Grabs Nearly $9 Million In Taxpayer CARES Aid




Time to burn down Harvard? :p /sarcasm

Oh ya, also besides this, Harvard has accrued 41 BILLION dollars in endowments/donations/accumulation. And on top of that 41 BILLION dollars and 300 MILLION dollar profit they need to take 9 million from taxpayers......

Harvard is tight with CIA.

Welcome to our fascist society! The rich get richer as the poor get poorer.
 
If the $9M wasn't going to Harvard, it would just go to some megalithic corporation. Anyone naive enough to think that small businesses are being bailed out with the stimulus money doesn't know Amerika very well.
 
These liberals were HOLDING UP this DESPERATELY NEEDED AID PACKAGE while us real Americans were suffering HOW DARE THEY!

Also: HOW COME THERE WASN'T ENOUGH OVERSIGHT AND RESTRICTION ON HOW THIS MONEY WAS DISTRIBUTED!?
 
Take your place on/the great mandala

These liberals were HOLDING UP this DESPERATELY NEEDED AID PACKAGE while us real Americans were suffering HOW DARE THEY!

Also: HOW COME THERE WASN'T ENOUGH OVERSIGHT AND RESTRICTION ON HOW THIS MONEY WAS DISTRIBUTED!?

These liberals - Harvard? Harvard is big in terms of universities, & has a big rep. However, they don't make national laws, nor issue Dept. Ed. policy. Nor, as we've discussed, are they 100% liberal.

OVERSIGHT AND RESTRICTIONMONEY WAS DISTRIBUTED - Trump appointed DeVos for OJT to the Dept. Ed. Apparently Trump doesn't believe in expertise nor experience - TMK, DeVos would like to shutter all public education K-12, state & community colleges, & put it all in the hands & pocketbooks of for-profit corporations.

The for-profits & charter schools are a mixed bag - some are good, some are bad, most are average or indifferent. One of the big issues there is responsibility - in a public school, lines of authority are clear, & so are expectations of staff & parents & students. For-profits & charters are murky, by comparison. These seem to run on good-old-boy networks, & god help you if you're outside the loop.

TMK, Dept. Ed. put together the CARES criteria aiming to help as many low-income students/families as possible. As noted previously, public colleges get the most allocation, with someplace in AZ - AZ State? - getting the most money. But Harvard also has some low-income students/families, so someone @ Dept. Ed. was asleep @ the wheel. DeVos was Trump's person - he put her in charge there. If he has issues with how she's doing the job, he can always fire her. Of course, it's poor optics - the White House/Cabinet revolving door spins faster & faster these days - but then, he's not a guy who cares about any of that, right?
 
Re: Take your place on/the great mandala

These liberals - Harvard? Harvard is big in terms of universities, & has a big rep. However, they don't make national laws, nor issue Dept. Ed. policy. Nor, as we've discussed, are they 100% liberal.

OVERSIGHT AND RESTRICTIONMONEY WAS DISTRIBUTED - Trump appointed DeVos for OJT to the Dept. Ed. Apparently Trump doesn't believe in expertise nor experience - TMK, DeVos would like to shutter all public education K-12, state & community colleges, & put it all in the hands & pocketbooks of for-profit corporations.

The for-profits & charter schools are a mixed bag - some are good, some are bad, most are average or indifferent. One of the big issues there is responsibility - in a public school, lines of authority are clear, & so are expectations of staff & parents & students. For-profits & charters are murky, by comparison. These seem to run on good-old-boy networks, & god help you if you're outside the loop.

TMK, Dept. Ed. put together the CARES criteria aiming to help as many low-income students/families as possible. As noted previously, public colleges get the most allocation, with someplace in AZ - AZ State? - getting the most money. But Harvard also has some low-income students/families, so someone @ Dept. Ed. was asleep @ the wheel. DeVos was Trump's person - he put her in charge there. If he has issues with how she's doing the job, he can always fire her. Of course, it's poor optics - the White House/Cabinet revolving door spins faster & faster these days - but then, he's not a guy who cares about any of that, right?

You did not interpret my post correctly at all.
 
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