World’s Richest University Harvard Takes U-Turn Over Accepting Federal Covid-19 Relief Package After Outrage

Harvard University has reversed its decision to accept coronavirus economic relief funds from the US government.

The university, which is the wealthiest in the world, had previously said it would keep the funding after President Donald Trump demanded Harvard pay back nearly $9 million in coronavirus stimulus money.

"Harvard, you pay that money back. I want Harvard to pay the money back...I don't like it at all. This is meant for workers. This isn't meant for one of the richest institutions ... in the world”, Trump was quoted as saying.

In a statement on Wednesday, Harvard said that though it would see serious financial challenges from the pandemic, it did not want the "intense focus" on Harvard to "undermine participation" in a relief bill meant to help "students and institutions whose financial challenges in the coming months may be most severe", the BBC reported.

"As a result of this, and the evolving guidance being issued around use of the Higher Education Emergency Relief Fund, Harvard has decided not to seek or accept the funds allocated to it by statute."

The university said it had received funding based on its total number of students as well as the number of lower-income students enrolled.

Other elite universities, including Princeton and Yale, have also received this money.

Besides Trump, many social media users had questioned the decision to send a federal grant Harvard’s way and instead asked the university to dip into its $41 billion endowment. It as a result is considered the richest university in the world.

With Inputs From IANS