[__jl__]

I think the 9 billion is very misleading. More than half goes to hospitals affiliated with Harvard. I am not sure but I don't think they get anything from the endowment. The impact of loosing this money would be very uneven across different parts of the university and hospitals affiliated with it.

The faculty of arts and science would be fine. Yes, some cuts, a hiring freeze etc. The med school and public health school would feel a big impact. They employ so many people on "soft money" through grants including many faculty members.

The hospitals are a different story and I am not sure why they are even lumped together.

[tootie]

Yeah this isn't purely a question of Harvard's P&L being dependent on subsidies. The money in question is grants attached to specific practices or research. The money isn't just gratuity for Harvard being so great, it's awarded for specific objectives that Harvard was deemed capable of delivering. Cutting off the money isn't going to hurt Harvard, it's going to stop all the programs the grants were funding.

[wmf]

Stopping those research programs is a choice. They could also choose to pay for them out of the endowment.