As Harvard University defies the Trump Administration’s demands, costing it some $2 billion in federal funding, you might be wondering what’s happening financially to the University of Notre Dame.
Some 6,000 people in Michiana work at Notre Dame, making it the region’s biggest employer. Reacting to the Trump Administration’s research funding cuts, the university has already implemented a hiring freeze and asked departments to prepare 5% budget cuts in case they’ll be needed.
Notre Dame officials declined WVPE’s interview requests Thursday but has released a statement saying it’s working with the Association of American Universities to lobby against more cuts in Washington. Notre Dame is especially worried about a proposal to dramatically increase the endowment tax by the Republican-controlled Congress, which so far has supported Trump’s moves.
Notre Dame’s $17 billion endowment, which comes from private donors, is the nation’s ninth-largest among universities. A bill introduced by a Texas Republican would increase the tax from its current 1.4% to 21%. That would hike Notre Dame’s annual tax from $238 million to nearly $3.6 billion.
Notre Dame uses its endowment to fund much of its undergraduate financial aid. In his inaugural address in September, the university’s president, Father Robert Dowd, announced a new no-loan policy, starting with this fall’s freshman class. A school spokesman said they’re still launching the initiative.
