Money to US Universities – level 3
The US Department of Education is looking into claims that Harvard and Yale did not report hundreds of millions of dollars in foreign gifts and contracts.
The department said that Yale did not disclose at least $375 million dollars in foreign donations. Also, there are concerns that Harvard did not fully report all foreign gifts and contracts, as required by law.
It is common that countries like China, Qatar, or Saudi Arabia donate money to US universities to build stronger connections with them. However, most colleges and universities are required to report gifts from and contracts with any foreign source that are over $250,000 dollars in value.
The Education Department reported that US colleges and universities disclosed about $6.5 billion dollars in foreign donations.
The US Education Secretary said that transparency is necessary and that students and taxpayers deserve to know where the donations come from.
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