The university was placed under ‘heightened cash monitoring’ status, squeezing its ability to access federal funds for student aid
The Trump administration imposed fresh restrictions on Friday on Harvard’s access to federal funds, opening a new front in its unprecedented crackdown on the prestigious US university.
The Department of Education announced in a statement that it has placed Harvard under “heightened cash monitoring (HCM) status”, saying there were “growing concerns regarding the university’s financial position”.
It cited the administration’s own accusations of civil rights violations at the university as creating uncertainty over future funding, as well as Harvard’s move to issue bonds and lay-off employees.
The status shift requires the university to use its own funds to pay out student financial aid packages that federal officials have promised, with the school later able to seek reimbursement from the government.
