If you don't think Harvard cares about federal funding, you don't know how money in higher education works. Nearly all of that endowment is tied up in long-ter

If you don't think Harvard cares about federal funding, you don't know how money in higher education works. Nearly all of that endowment is tied up in long-term investments and funds. It's not liquid. Their cash flows and run rate are made up of a HUGE percentage of federal funds. Government grants and loans, research grants, and special programs. A large percentage of professors spend a large percentage of their time applying for federal money. That's where their operating budgets come from.