The department said the latest action is the consequence of three events, including the department’s determination that Harvard has violated Title VI of the Civil Rights Act, and allegations that Harvard has taken steps to secure $1 billion in bonds.
The Department of Education on Friday placed Harvard University on heightened cash monitoring status, which requires the university to use its own funds to disburse federal student aid before drawing funds from the government.
The department said that students at the Ivy League school will still have access to federal aid but that the initial disbursements will need to be covered by the school as a means to ensure the school is spending government funds appropriately. Harvard sits on a $53 billion endowment, CNN reported earlier this year.
The department said the latest action is the consequence of three events, including the department’s determination that Harvard has violated Title VI of the Civil Rights Act, and allegations that Harvard has taken steps to secure $1 billion in bonds.
Having some of the allegedly smartest people on Earth as faculty and administrators they should have an easy time raising all the money they’ll ever need.
tax their endowment! we dont get a free ride why should they?
Has anyone else noticed that the most highly-educated amongst us are horrible failures at ROI?