Cornell, Brown Look to Alternative Funding After Trump Threats
Cornell is among a number of schools that have implemented hiring freezes amid the financial uncertainty due to cuts related to federal funding.
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US colleges facing the threat of federal funding cuts under President Donald Trump’s administration are tapping short-term borrowing to preserve cash.
Cornell University is set to roughly triple the size of its taxable commercial paper program to $1 billion, according to Moody’s Ratings. The school plans to replace an existing $1 billion tax-exempt program with commercial paper notes. Brown University and the University of Southern California are exploring similar strategies.