US EditionTrump Govt's Actions Could Cost Harvard University $1 Billion Annually; Alan Garber Warns of 'Painful Layoffs’
MIDDLESEX COUNTY, MASSACHUSETTS, JUL 15 – Federal actions include a tax hike on Harvard's $53 billion endowment and research funding freezes, threatening nearly 40% of its annual operating budget, university leaders said.
- Harvard University warned on July 14 that federal actions including a July 4 tax hike and funding freezes could cost up to $1 billion annually.
- This financial strain stems from the Trump administration’s multi-front campaign targeting Harvard with research fund cuts, tax threats, and international student restrictions.
- Harvard responded by extending a hiring freeze first issued in March, cutting expenditures, securing $250 million in bridge funding, and facing layoffs at key schools.
- President Alan Garber acknowledged that the university is experiencing significant difficulties resulting in major disruptions, difficult staff reductions, and continued unpredictability about what lies ahead.
- Harvard is pursuing legal challenges and alternative funding efforts but expects next year’s budgets to deepen cuts amid long-lasting revenue declines and rising costs.
13 Articles
13 Articles
Harvard Can’t Afford to Lose Its Foreign Students. Trump Knows It. — Minding The Campus
Harvard does not trust the Trump administration. The Trump administration does not trust Harvard. Yet, you make peace with your enemies, not your friends. The best way forward is for Harvard—and other elite schools—to make a deal on one important aspect of their dispute: Provide admissions transparency in exchange for student visa forbearance. If that […] The post Harvard Can’t Afford to Lose Its Foreign Students. Trump Knows It. appeared first …
Harvard Officials Say Federal Actions Could Cost the University $1 Billion Annually
Harvard President Alan M. Garber ’76 warned Monday that the combined financial impact of sweeping federal policy changes — including research funding cuts and a sharp increase in the tax on endowment income — could cost the University up to $1 billion annually.
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