Columbia U. Has Not Rejected $12.8 Million in Federal Aid Despite $11 Billion Endowment

People walk past the Alma Mater statue on the Columbia University campus on July 1, 2013 in New York City. An interest rate hike kicks in today for student loans, an increase for 7 million students. Congress left town at the end of last week failing to prevent rates on …
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Columbia University has yet to announce whether it will accept $12.8 million in federal coronavirus relief that it is eligible for under the CARES Act despite its $11 billion endowment. Several other Ivy League institutions, including Harvard, Yale, and Princeton, have already announced that they will reject federal funding following pressure from President Donald Trump and the general public.

According to a report by the Daily Pennsylvanian, Columbia University has yet to reject $12.8 million in federal funding that they are eligible for under the CARES Act, a coronavirus relief program passed by Congress in March.

Breitbart News reported in April that President Trump pressured Harvard University to return the $8.7 million that it was eligible for under the CARES Act. “They have one of the largest endowments anywhere in the country, maybe in the world, I guess,” Trump said. “And they’re going to pay back that money. They shouldn’t have taken it.”

Although Harvard University, which boasts an endowment of over $40.9 billion, initially planned to accept the federal funds, it reversed course after mounting pressure from the president and the public.

Columbia University is eligible for $12.8 million in funding under the CARES Act, the largest amount available to any school in the Ivy League. The university’s $11 billion endowment is also one of the largest in the Ivy League. Only Harvard, Yale, Princeton, and the University of Pennsylvania have larger endowments among the elite schools.

Breitbart News reported this week that Northwestern University has rejected $8.5 million in federal funding under the CARES Act. Northwestern currently also boasts an endowment of $11 billion.

Stay tuned to Breitbart News for more updates on this story.

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