July 7, 2025

In a pivotal move impacting higher education funding, former President Donald Trump has signed a law that significantly raises the federal excise tax on endowment income for wealthy private universities. Harvard University is expected to bear a hefty annual cost exceeding $200 million due to this legislation. The tax rate has surged from 1.4% to 8% for institutions with endowment assets surpassing $2 million per domestic student paying tuition.

Read More at Timesofindia →

Tags: Trump, Harvard university, Tax law, Endowment income, Education funding,