Harvard faces billion-dollar shortfall amid Trump clash
Harvard is staring at a potential $1 billion budget gap, mainly because of Trump-era policy changes that cut federal research funding, reduced student aid, and increased taxes on its endowment.
Even with a massive $53 billion endowment, most of that money is locked up by donor rules, so the university's $6.4 billion operating budget could take a real hit.
Harvard has frozen hiring, trimmed budgets
To deal with this crunch, Harvard has frozen hiring, trimmed budgets (including at the Kennedy School), borrowed $750 million, and dipped into its cash reserves.
President Alan Garber has said these changes put important research—like cancer and pediatric HIV studies—at risk.
On top of all this, Harvard is fighting back legally against the cuts and ramping up fundraising to keep its academic reputation strong.