Where is all the stimulus money going?

Well some of it is going to Harvard, but naturally we will never know where it all goes, as with any federal stimulus package. That's why they love big pots of money after all.

https://www.yahoo.com/huffpost/harvard-richest-9-million-cares-aid-033517131.html

Harvard University, already supported by a massive $41 billion endowment, is getting nearly $9 million in taxpayer aid from the federal Coronavirus Aid, Relief and Economic Security Act, the U.S. Department of Education announced.

Under the terms of the payout from CARES’ Higher Education Emergency Relief Fund, at least half of the $8.7 million earmarked for Harvard must be reserved for emergency financial grants to students, according to the Harvard Crimson, which was the first to report the aid.

But at least some of that money — which could be used to cover tuition payments and course materials — would also end up in Harvard coffers. The funds would also likely be spent on extra technology, food and housing costs that students incurred amid “disruptions in their education” due to COVID-19, according to CARES provisions.

Though Education Secretary Betsy DeVos hailed the program in a statement earlier this month, a spokesperson later told Newsweek that DeVos “shares the concern that sending millions to schools with significant endowments is a poor use of taxpayer money.”

The money is part of nearly $14 billion in the $2 trillion CARES package allocated for higher education institutions and students as colleges and universities across the nation have shut classrooms and launched online learning.

Aid amounts for universities and colleges were based on a formula set by Congress weighted heavily in favor of institutions with significant proportions of low-income students on federally funded Pell grants. The formula apparently does not take into account the financial need of an institution.

Even with the aid, several smaller, financially struggling colleges may be forced to close permanently, Bloomberg reported.

Institutions like Harvard might have to dip into their endowments — a pool of assets and investments — or step up fundraising to cover costs. Harvard’s endowment is the largest of any university in the world, but is at risk of losing value amid the economic collapse caused by the COVID-19 crisis.

In addition to its endowment, Harvard ended the 2019 fiscal year with a nearly $300 million operating surplus, according to Newsweek.

Harvard has already announced salary and hiring freezes, cost cuts, and deferred capital projects as the COVID-19 crisis depresses its income, the Crimson reported. Harvard came under fire in March for firing subcontracted cafeteria workers and offering no unemployment benefits, according to the Washington Free Beacon. It also gave students in university housing just days to get out.

The university sold a $1.1 billion bond for additional funds early this month to take advantage of plunging interest rates, Bloomberg reported.

DeVos sent a letter to colleges and universities, asking officials to forward their aid to other, needier institutions if they could get by without the funds, her spokesperson told Newsweek. But a Harvard representative indicated to Newsweek that its federal aid isn’t going anywhere else, but will be used to address “substantial costs” incurred by the university due to COVID-19.

The top 20 universities getting the largest amounts of CARES funds are public institutions. Arizona State University is set to receive the biggest grant: $63 million.

Among private Ivy League Universities, Columbia University and Cornell University are set to each receive $12.8 million. Yale will get $7 million, and Princeton University expects some $2.5 million, according to the Department of Education’s tally. The department’s list is the first information Americans have about where their federal stimulus money is going.

Critics on Twitter were furious that such a wealthy institution would receive a publicly funded windfall as an army of unemployed Americans are struggling to meet expenses for housing and food.

@whodey said
Well some of it is going to Harvard, but naturally we will never know where it all goes, as with any federal stimulus package. That's why they love big pots of money after all.

https://www.yahoo.com/huffpost/harvard-richest-9-million-cares-aid-033517131.html

Harvard University, already supported by a massive $41 billion endowment, is getting nearly $9 million in taxpaye ...[text shortened]... ed windfall as an army of unemployed Americans are struggling to meet expenses for housing and food.

@joe-shmo said
100 Million? Try 6 Billion!

https://www.chronicle.com/article/Colleges-Are-Handing-Out/248544

"One week after the federal government announced it was “immediately” distributing more than $6 billion for colleges to disburse to their students, administrators are wrestling with how to quickly identify the students who need help the most without leaving anyone behind."

@whodey said
The #1 priority for the Federal government is funding their indoctrination programs where students all huddle together in cramped dorms and class rooms that will spread the virus once they resume business. I take that back, funding abortion centers is the #1 priority, that way it reduces the load of students they have to indoctrinate.

As for making PPE, hospital workers co ...[text shortened]... to have to use the same mask they obtained during the Spanish flu after the last Pandemic outbreak.

@mghrn55 said
The biggest indoctrination program out there, by far, is religion.

@mghrn55 said
The biggest indoctrination program out there, by far, is religion.

@whodey said
Well some of it is going to Harvard, but naturally we will never know where it all goes, as with any federal stimulus package. That's why they love big pots of money after all.

https://www.yahoo.com/huffpost/harvard-richest-9-million-cares-aid-033517131.html

Harvard University, already supported by a massive $41 billion endowment, is getting nearly $9 million in taxpaye ...[text shortened]... ed windfall as an army of unemployed Americans are struggling to meet expenses for housing and food.

@whodey said
Well some of it is going to Harvard, but naturally we will never know where it all goes, as with any federal stimulus package. That's why they love big pots of money after all.

https://www.yahoo.com/huffpost/harvard-richest-9-million-cares-aid-033517131.html

Harvard University, already supported by a massive $41 billion endowment, is getting nearly $9 million in taxpaye ...[text shortened]... ed windfall as an army of unemployed Americans are struggling to meet expenses for housing and food.

@mchill said
Well some of it is going to Harvard, but naturally we will never know where it all goes, as with any federal stimulus package. That's why they love big pots of money after all.


You don't have a problem with our Government throwing big pots of money (over 100 billion a year) at the Fortune 500 as subsidies and other corporate welfare, but let an unemployed waitress collect ...[text shortened]... she's a slimy socialist B_TCH! - Right?

Republicans - They love America, but they hate Americans

@no1marauder said
I brought a Keurig with mine.

Still have to figure out what to do with the other $1100.

And now you know why I am against capitalism.

put politicians in charge of who gets "free money"?? that'll be the fokking day.

@whodey said
Why then are they all closed?

Seems like the indoctrination is not as good as Leftism, which is the most successful religion in modern times.

We even have a Pope turning a blind eye to abortion, which is mass genocide according to the church, while giving sermons on the evils of building walls and global warming. Then the Leftist church continues to also turn a blind eye on molestation as well.

Maybe they should just remain closed.

@whodey said
Indoctrination is done for power and money. So all one has to do is look at where all the money is today and where it is all going.

None of the stimulus money is going to churches.

@whodey said
In other words, you did not need any of it.

@whodey said
Well some of it is going to Harvard, but naturally we will never know where it all goes, as with any federal stimulus package. That's why they love big pots of money after all.

https://www.yahoo.com/huffpost/harvard-richest-9-million-cares-aid-033517131.html

Harvard University, already supported by a massive $41 billion endowment, is getting nearly $9 million in taxpaye ...[text shortened]... ed windfall as an army of unemployed Americans are struggling to meet expenses for housing and food.