Yesterday Harvard announced it would give all its stimulus money to students in need.
On April 9, Secretary of Education Betsy DeVos issued aallowing schools wide discretion in how they distribute the funds. But she urged them to give the most to students who had unexpected expenses as a result of the pandemic including food, housing, medical bills and technology needed to study online. Harvard didn’t lobby for the funds, according to a Harvard staffer who didn’t want to be quoted.
Harvard has become a lightning rod because it has the largest endowment of any school in the country. In June 2019, the endowment was valued at $41 billion. Why can’t Harvard just spend that money to help students and cover any of its own new expenses resulting from the pandemic?’ questions, a Harvard spokesman emailed a list of bullet points about restrictions on endowment spending. The short version: The endowment is made up of more than 13,000 separate funds.
Harvard will need the money. It issued room and board refunds to students who left campus. At the same time, it has kept the dormitories and food services running for 800 students who couldn’t leave. Those students have moved into one-bedroom units with designated bathrooms where they can observe social distancing.
Students concerned that Harvard might not pay subcontracted employees like security guards, circulated a petition with 7,000 signatures. Harvardthat it would pay all of its “core” staffers including administrative and service workers, even if they can’t do their jobs remotely, through May 28. Subcontracted workers are included.
What’s Harvard’s coronavirus bill thus far? Harvard isn’t saying. But on April 10, Claudine Gay, dean of Harvard’s Faculty of Arts and Sciences, which includes Harvard College, emailed faculty that FAS alone hadHarvard has imposed a series of austerity measures. On April 13, President Bacow
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