Harvard posts deficit of over $110 million as funding feud with Trump continues to sting



Harvard has stated that it had an “extraordinarily challenging” fiscal year amid its ongoing feud with the Trump administration.

President Donald Trump withheld over $2 million in federal research funding after he accused Harvard of “repeatedly” failing to confront anti-Semitic harassment on its campuses, arguing that the university was violating federal civil rights law.

'Even by the standards of our centuries-long history, fiscal year 2025 was extraordinarily challenging, with political and economic disruption affecting many sectors, including higher education.'

Harvard responded to the funding freeze by suing the administration. While most of those awards have been reinstated, according to Harvard, President Donald Trump’s actions against the university appear to have made an impact.

“The reinstatements of those grants do not erase the disruption the terminations sparked, nor do they negate the uncertainty ahead. That means we can’t simply return to ‘business as usual,’” Harvard chief financial officer Ritu Kalra told Bloomberg.

A financial report released Thursday by the Ivy League school showed a $113 million deficit for fiscal year 2025, which ended on September 30. This marks Harvard’s first operating loss since 2020 and its largest deficit since 2011. In contrast, for fiscal year 2024, Harvard reported a $45 million gain.

Harvard’s financial difficulties prompted it to make “difficult but necessary choices,” according to Alan Garber, the university’s president. It reportedly implemented a hiring freeze, initiated layoffs, scaled back projects, and withheld salary increases from exempt employees.

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“Even by the standards of our centuries-long history, fiscal year 2025 was extraordinarily challenging, with political and economic disruption affecting many sectors, including higher education,” Garber wrote.

He also blamed President Donald Trump’s termination of federal research funding, noting that a federal judge found the move to be unlawful. The administration reportedly has plans to appeal the judge’s decision.

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“We closed [the fiscal year] confronting the abrupt termination of nearly all of Harvard’s federal research grants, facing potential constraints on the exchange of international scholars, and considering how we will absorb the enactment of a substantial increase to the federal tax on endowment income, scheduled to take effect in fiscal 2027,” the report read.

Despite its reported challenges, Harvard recorded the largest current-use gifts in its history, totaling $629 million — a 19% increase over the previous fiscal year. However, the university's endowment gifts, which are more restricted in their use, have declined over the last two years. In fiscal year 2023, Harvard collected $561 million in endowment gifts, while the amounts dropped to $368 million in 2024 and $364 million in 2025.

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Cory Booker lashes out against colleagues during Senate floor freak-out: 'It's time for Democrats to have backbone'



The Senate floor has once again become the arena for lawmakers' political theater. This time, Democrats put their infighting on full display.

Sen. Cory Booker of New Jersey erupted at his Democratic colleagues during a heated tirade Tuesday, accusing Sens. Catherine Cortez Masto of Nevada and Amy Klobuchar of Minnesota of being "willing to be complicit" with President Donald Trump.

“This, to me, is a problem with Democrats in America right now, is we’re willing to be complicit to Donald Trump,” Booker said during a floor speech Tuesday.

'There's a lot of us in this caucus that want to f**king fight.'

Booker's outrage was sparked after Klobuchar and Cortez Masto sought to pass by unanimous consent a package of bills that included grants for police departments. Booker tried to offer an amendment that would alter the distribution of grants across states in response to Trump's executive order freezing all federal funds related to DEI programs.

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Cory Booker is absolutely losing it screaming on the Senate floor: “The Democratic Party needs a wake up call! It’s time for Democrats to have a backbone and fight and draw lines! Don’t question my integrity! Don’t question my motives!”

😂😂😂 pic.twitter.com/Z03KEwvCQN
— TheBlaze (@theblaze) July 29, 2025

"The Democratic Party needs a wake-up call," Booker said.

"And what are the very people here elected to defend the Constitution of the United States saying? 'Oh, well, today let's look the other way and pass some resources that won't go to Connecticut, that won't go to Illinois, that won't go to New York, but that will go to the states he likes,'" he went on.

"That is complicity with an authoritarian leader who is trashing our Constitution," Booker added. "It's time for Democrats to have a backbone. It's time for us to fight."

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Notably, Booker did not put up a strong fight. Despite his indignation, Booker ultimately did not formally object to the two bills, and they passed with unanimous consent.

“There's a lot of us in this caucus that want to f**king fight," Booker said as he left the Senate floor. "And what's bothering me right now is we don't see enough fight in this caucus.“

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Why Trump’s war with Harvard hits closer to home than you think



Harvard University — the gold-plated symbol of American elitism — is in the fight of its life, and it’s a battle of its own making.

For the past month, Harvard has been locked in a standoff with the Trump administration over student visas, foreign money, anti-Semitism, and compliance with federal law. This is more than just another Beltway spat. This is a tectonic clash between the people who built this country and the elites who now believe they own it.

Why are taxpayers subsidizing institutions that actively undermine the very values that built this country?

To most Americans, Harvard stands for privilege, power, and a snobbish culture far removed from the everyday citizen. So why should you care what happens to Harvard?

Because this isn’t just about one Ivy League school. It’s about whether America will remain a free republic — or continue down the path of ideological capture by radical institutions.

It all began in April, when Homeland Security Secretary Kristi Noem demanded that Harvard provide records of foreign students involved in illegal, violent, or disruptive activities — like the kind of protests we saw last year that devolved into pro-Hamas encampments. Harvard missed the deadline. So the Trump administration pulled the plug: No more international student enrollments for Harvard.

To say that hurt would be an understatement. Foreign students make up 27% of Harvard’s student body — more than 6,700 individuals. Their tuition is a massive cash cow. Harvard sued, of course, and a federal judge has temporarily paused the visa ban. But the message from Trump’s Department of Homeland Security was clear: Comply with federal law or face the consequences.

Then came a broader move: The administration paused all new student visa interviews nationwide while it considers expanding social media vetting for foreign applicants. After the chaos we saw on campuses last fall, that seems like basic common sense.

Shut off the spigot

Next, the Trump administration turned off the federal funding faucet — more than $3 billion in research grants and contracts frozen. Harvard screamed censorship and filed another lawsuit, claiming this was a First Amendment violation. But let’s pause here: Harvard has a $53 billion endowment. That’s more than the GDP of more than 120 countries.

Why does an institution that rich receive any federal funding, let alone billions? Since World War II, the federal government has been throwing money at universities for research, including the development of the atomic bomb. Once the spigot opened, it never shut. Today, your taxpayer dollars are funding a $50,000 research project into the effects of coffee.

Congress is finally waking up. A bill is working its way through the Senate that would slap a tax on massive university endowments. Harvard alone could be facing an $850 million annual tax bill. About time!

Behind the crackdown

Three key factors are driving Trump’s fight with Harvard.

The first reason is anti-Semitism. Harvard, like many elite schools, turned a blind eye to vile anti-Jewish sentiment after the October 2023 Hamas attacks in Israel. The administration says enough is enough — and it’s right.

Second, Harvard has refused to comply with the 2023 Supreme Court decision declaring race-based admissions unconstitutional. The message from Harvard? We’re above the law.

Third, Harvard has been deeply entrenched in woke ideological corruption. Trump said it plainly on the campaign trail: Elite universities like Harvard are controlled by “Marxist maniacs and lunatics.” That’s not hyperbole. Harvard has abandoned its motto, Veritas — truth — in favor of radical conformity.

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Just 9% of Harvard students identify as conservative. Among faculty, that number is a jaw-dropping 2.5%. This is a monoculture, not any sort of “marketplace of ideas.”

And it’s getting worse. In March, a Harvard professor openly called for firing any faculty who don’t support “gender-affirming care” for children. Think about that. This is not education. This is indoctrination.

The Foundation for Individual Rights and Expression recently ranked Harvard dead last in the country for free speech. It scored zero out of 100.

A fight beyond Harvard

Maybe you’re thinking, “Yeah, Harvard’s always been liberal. What else is new?” Here’s what is new: The radicalism cultivated behind ivy-covered walls has spilled into the real world.

We’ve had a cultural lab leak. Academic ideas once confined to lecture halls — critical race theory, diversity, equity, and inclusion measures, gender ideology, climate hysteria — are now infecting K-12 classrooms, human resources departments, government agencies, and even the military.

This is no longer a theoretical problem. It’s practical. It’s personal. It affects your children’s education, your job, your freedom of speech, and your values.

So here’s the question we should all be asking: Why are taxpayers subsidizing institutions that actively undermine the very principles and beliefs that built this country?

Trump’s war on Harvard is about more than visas, lawsuits, or even money. It’s about reclaiming the soul of America from those who have hijacked it. Harvard may have prestige, but it no longer has integrity. It certainly doesn’t need your money — or your consent.

It’s time to cut off the funding, tax the endowment, and force accountability. Because in the fight for America’s future, no institution should be above the people who pay the bills.

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