Harvard University, home of the $41 Billion endowment, has received nearly $9 million in aid from the Federal Government under the CARES Act. President Trump has, rightly in my opinion, demanded that it be given back. Harvard has responded it intends to keep the money and that it will be spent on student aid and that none will be spent on University operations.
Harvard’s response is clearly deceptive. Student aid, scholarships, student grants, etc. go to students to pay their tuition and other fees at Harvard. So the money does go to Harvard to support its operations, filtered through the students.
What Harvard should do instead is forgive payments by students, make up the money lost from its massive, tax exempt nest egg, and return the money to the Federal Government to be used where it is really necessary.