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Investing.com-- The Donald Trump administration said on Monday that it will freeze $2.2 billion in multi-year grants and $60 million in multi-year contracts at Harvard University after the school rejected changes proposed by the administration.
The move comes after Harvard said it will not follow demands from the White House that the school scrap its diversity and inclusion programs, ban masks at protests, and review its basis for admission.
The funding freeze was carried out by a Department of Education group to combat alleged antisemitism.
Trump’s administration has frozen funding for several universities which the President alleges have been taken over by the extreme left.
Alleged antisemitism in American colleges became a major point of focus over the past year, amid a wave of protests over Israel’s handling of Hamas and Gaza.
Reuters reported that Harvard plans to borrow $750 million through bond issuances to help offset federal funding cuts.