Harvard University faces an estimated annual budget shortfall of approximately $1 billion if President Trump implements his proposed policies affecting research funding, tax policy, and student enrollment. This projection, reported by The Wall Street Journal and based on publicly available data, reflects a worst-case scenario where Harvard could lose all federal research funding and face increased taxation on its endowment. The Trump administration's broader campaign to reshape higher education includes withholding billions in federal funds, launching investigations, and raising taxes on select private colleges' endowments through the so-called "Big Beautiful Bill." While Harvard's tax burden is expected to more than double, some smaller private colleges with left-leaning student bodies have received tax relief under Republican measures. These developments have prompted concerns across the political spectrum about the impact on academic freedom and the financial stability of elite institutions. The debate around higher education is also intertwined with discussions on free speech and political influence on campuses.