Key Takeaways:
- Harvard allocates $250 million for research after losing $2 billion in federal funds.
- The cuts came due to alleged antisemitism and race-based practices.
- University refuses compliance with Trump administration demands.
- President Alan Garber takes a 25% pay cut; 100 senior faculty pledge 10% of salaries.
- Harvard secures a $750 million loan and seeks alternative funding.
Harvard University is taking bold steps to address a significant financial blow after losing over $2 billion in federal funding. This drastic cut by the Trump administration was in response to accusations of allowing antisemitism and using race-based practices on campus. Unwilling to comply with federal demands, Harvard is now channeling $250 million from its central funds to support research activities.
President Alan Garber has set an example by voluntarily reducing his salary by 25%, while 100 senior faculty members have pledged 10% of their earnings to cushion the financial impact. This solidarity reflects the university’s commitment to resilience and academic continuity.
Harvard’s financial strategy includes a $750 million loan and exploring alternative funding sources. These moves highlight the institution’s determination to navigate the crisis without compromising its academic mission.
The situation underscores the broader implications of federal funding cuts on academic freedom, as Harvard stands firm against external pressures, prioritizing its values and long-term goals.