Harvard had a financial responsibility score of 2.8, well over the passing 1.5 required by the Education Department, in fiscal year 2023.

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The Education Department announced Friday that it placed Harvard University on heightened cash monitoring, a designation that allows greater federal oversight of institutional finances and is typically reserved for colleges in dire financial straits.

By all accounts, Harvard, with its $53 billion endowment, is not.

“It’s harassment,” said Jon Fansmith, senior vice president for government relations and national engagement at the American Council on Education. “Harvard has the money, yes, but it is adding a headache. It’s adding staff. It’s interfering with students’ ability to access federal financial aid …

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