ivy league

Filthy Rich Ivy League Universities Set to Receives Millions in Federal Coronavirus Funding

The eight elite Ivy League private colleges are set to receive millions if taxpayer-funded coronavirus stimulus money. This is despite the universities controlling endowments with a combined value of over $140 billion in 2019.

According to financial statements from the university, five Ivy League schools posted operational surpluses of over $200 million in 2019. Secretary of Education Betsy DeVos said that it’s up to the school to decide whether or not they really need the funds and send any that is unneeded to schools in need.

More on the story from Daily Caller:

The eight Ivy League schools are set to receive a combined $61.7 million in federal funding through the Coronavirus Aid, Relief and Economic Security (CARES) Act.

Harvard University spokesman Jason Newton said Monday that the school will be giving 100% of its $8.6 million federal funding package to its students with urgent financial needs amid the pandemic.

And a Brown University spokeswoman said its $4.8 million CARES Act package would be used to help sustain its commitment to offer “generous financial aid” to its students in financial need.

None of the other six Ivy League schools responded to multiple inquiries from the Daily Caller News Foundation asking if they would relinquish any of their federal coronavirus funding.

With the astronomical tuition costs to the Ivy League schools, there’s no doubt there are much more desire needs to address with the stimulus package. Regardless, millions of dollars are being sent there.

The stimulus package needs to be used for people in need. Not universities with a surplus of millions of dollars.

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