1. The KillerFrogs

Harvard got $9 million! Did we get any?

Discussion in 'Scott & Wes Frog Fan Forum' started by Brog, Apr 20, 2020.

  1. I should have expected this when I read a week or two ago that the Kennedy Center for Performing Arts in Washington DC got $25 million out of the government's bailout plan. Now Harvard with its $40 billion endowment claims $9 million from it. And word is that some of our biggest local church congregations also claimed $$ from the plan. So wonder if we (TCU) got any!

    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.
     
  2. I don't want their money.

    Additionally, what were we to expect from the Grab Bag of All Grab Bags?
     
  3. Anybody know whether TCU gave refunds for any part of the Spring semester? Tuition, Room and Board?
     
  4. TCU allocated $5.7 million

    Other Texas Schools
    Texas A&M CS $39.8 million
    Univ. of Texas -Austin $31.4 million
    Texas Tech $25.5 million
    Baylor $10.7 million
     
  5. I thought the cap was $10MM on the PPP program.
     
  6. #6 helcap, Apr 20, 2020
    Last edited: Apr 20, 2020
    This is not the PPP, it is the Higher Education Emergency Relief Fund administered by the Department of Education
    Allocations based mainly on two factors, total enrollment and percent of undergrads who
    receive Pell Grants
     
  7. Well that is much better then. Still unclear to me UT and Harvard, with those endowments, need assistance.
     
  8. Neither accumulated their endowments by missing chances to get money.
     
  9. Higher ed is a bubble that is beyond due to pop
     
    Horned Toad, Wog68, stbrab and 3 others like this.
  10. Heard on the news today that Harvard furloughed all of its cafeteria workers the very first week to save $750k
     
  11. well not quite the summer - more like 4 days.

    anyone over $150k gets two weeks.

    But hey - they got money from the federal government but are doing it anyway.....

    I would love to know exactly what all of these schools are going to do with the aid that has to go to students? new laptops, money for internet, increased aid next year?

    Still don't get why the CARE act allocated money for Universities that are all still open...
     
  12. Room and board yes. They still are in school on line.
     
    Eight likes this.
  13. "Harvard University spokesperson Jason Newton denied the institution received any small business funds from the program in a statement to NBC News on Tuesday.

    He added that the school, however, the school did receive funds as part of the CARES Act Higher Education Emergency Relief Fund in which all money will be used to "provide direct assistance to students facing urgent financial needs due to the COVID-19 pandemic."

    https://www.nbcnews.com/health/heal...onavirus-news-n1188466/ncrd1189166#blogHeader

    Here's all you ever wanted to know about the CARES money. Please note there are TWO separate pots of money being distributed by the Department of Education:

    https://www2.ed.gov/about/offices/list/ope/heerfstudentfaqs.pdf

    https://www2.ed.gov/about/offices/list/ope/heerfinstitutionalfaqs.pdf
     
  14. Yeah ... those damn democrats !
     
  15. OK, is this supposed to explain why an institution with $41 BILLION dollars in endowment needs to get Federal (that's tax payer) help to support their students during the Covid-19 crisis? I'm working to understand.
     
  16. so I wonder if somewhere in the hundred of pages of the CARE act - it actually defines what they students are supposed to do with the 50% of the funds allocated to supporting the students via "emergency financial aid grants"

    It is a little late to wonder if they could afford to get home, have a place to live outside the dorm, have money for food without a meal plan, etc....

    I am also not sure why our government felt the schools would be the preferred medium to disperse additional support to these students.
     
  17. I think she was trying to make people - like me evidently - realize they didn't take money from small businesses under the PPP program - or at least aren't the reason it ran out of money.

    What she is totally tone deaf to is the fact that the money directed to Institutions of Higher Learning under HEERF within CARES did reduce the PPP number available in total because there was a smaller pie after CARE was allocated a portion of the $2 trillion. Frankly, it also reduced the amount of money available to send to the taxpayers that got a $1200 check.

    So just like several other industries -anyone that had an ability to continue to operate and produce income, even at a reduced level - should have gotten in line BEHIND the American people and businesses who were forced to stop working and generating any level of income.

    I wonder how many more people would be able to pay their bills instead of ask for delays or go to buy groceries instead of getting in food lines or how many more small businesses would be able to reopen after all this if the most of the $2 million had gone to those people instead of to Universities and Corporations that had other means to finance themselves through this crisis?
     
  18. Harvard has announced they are not taking the funds,joining Stanford and Princeton so far in rejecting the money
     
  19. Guess that backed down after the comment was made about looking into their 40 billion they have stashed away
     

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