Stanford University is withdrawing an application for $7.4 million it would get in federal emergency funding based on its numbers of poorer students. Harvard University is rejecting its $8.7 million share, too, citing "intense focus from politicians," the day after being sharply criticized by President Donald Trump. Princeton said it won't accept the $2.4 million that was headed its way.
Yale University followed their lead with an announcement Wednesday night it would do the same. The University of Pennsylvania added to the list on Thursday, meaning the nation's five wealthiest private schools with the largest endowments have all decided to forgo their stimulus cash.
Colleges and universities across the country are grappling with significant financial losses brought on by the coronavirus as they've shut down their campuses and moved instruction online. Some schools have been pleading with Congress for more money in recent weeks, saying the stimulus law that provided nearly $14 billion for higher education is not enough to support their students and soften the economic blow they're seeing from losses in revenue.
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