"Harvard, With A $40 Billion Endowment, Will Receive $8.7 Million In Federal Aid For Coronavirus Relief"

"Harvard University in Boston will receive $8,655,748 in federal aid for coronavirus relief despite having a $40 billion endowment. The Harvard Crimson, the student newspaper, posted news of the federal aid on its Twitter account: 'Harvard University will receive nearly $9 million in aid from the federal government through the Coronavirus Aid, Relief, and Economic Security Act, the Department of Education announced last week.' The money is part of the $14 billion allocated to colleges and universities in the CARES Act, the $2 trillion stimulus bill passed by Congress to help struggling Americans across the nation impacted by the new coronavirus pandemic... The Harvard Management Company, which manages the university's endowment and related financial assets, according to its website, released a financial report for the fiscal year 2019 that stated Harvard's endowment value was at $40.9 billion, an increase from the $39.2 billion endowment value for the university's 2018 fiscal year."