President Donald Trump’s administration has imposed new restrictions on Harvard, citing financial concerns for the oldest university in the US.
In the recent crackdown, the Trump administration limits Ivy League school’s ability to access federal funds for student aid programs.
According to the US Department of Education, it has placed Harvard and Cambridge on "heightened cash monitoring” status on the grounds of their “financial position.”
In the backdrop of new restrictions, the university administration will be compelled to spend its own funds for the student aid programs prior to requesting the education department for finances.
"Students will continue to have access to federal funding, but Harvard will be required to cover the initial disbursements as a guardrail to ensure Harvard is spending taxpayer funds responsibly," the department of education said in a statement.
Moreover, the Office of Federal Student Aid (FSA) is also planning to have Harvard post an “"an irrevocable letter of credit for $36 million or provide other financial protection that is acceptable."
The string of new limitations came after triggering events, such as Harvard’s violation of Title VI of the Civil Rights Act which proscribes discrimination on the grounds of race and ethnicity.