Secretary of Education Betsy DeVos. Photo: Drew Angerer/Getty Images

Education Secretary Betsy DeVos on Wednesday asked wealthy institutions to reject coronavirus emergency funding and requested that Congress change its eligibility requirements.

The big picture: Her statement comes one day after President Trump said Harvard University should pay back the $8.7 million in federal money it was due to receive from the Education Department via the Coronavirus Aid, Relief and Economic Security Act.

Driving the news: Harvard announced Wednesday it will return the funds. The university said "it did not apply for this support, nor has it requested, received or accessed these funds."

"We are concerned that intense focus by politicians & others on Harvard in connection with the program may undermine participation in a relief effort Congress created & the president signed into law for the purpose of helping those whose financial challenges may be most severe."
— Harvard said in a statement

What DeVos is saying:

"Schools with large endowments should not apply for funds so more can be given to students who need support the most. It’s also important for Congress to change the law to make sure no more taxpayer funds go to elite, wealthy institutions."
— per a statement Wednesday

The state of play: The coronavirus relief package allocated about $14 billion to colleges and universities. Higher education has taken a financial hit from the pandemic, closing campuses and laying off employees.

  • In early April, DeVos sent a letter asking college and university presidents to consider allocating stimulus dollars to their states and regions that are in need rather than their institutions.
  • Stanford University said Tuesday it would not collect the $7.4 million it was due to receive under the CARES Act.

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Where coronavirus stimulus talks stand

White House Chief of Staff Mark Meadows, left, and Treasury Secretary Steven Mnuchin on Capitol Hill. Photo: Bill Clark/CQ-Roll Call, Inc. via Getty Images

The consensus within the White House over the weekend is that they should turn their attention toward passing a smaller, bifurcated stimulus bill, focused on their main priorities.

The state of play: Chief of staff Mark Meadows and Treasury Secretary Steven Mnuchin were discouraged after their meeting with House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer on Tuesday, GOP congressional aides involved in the negotiations told Axios.

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Hong Kong media tycoon Jimmy Lai arrested under national security law

Media tycoon Jimmy Lai at the Next Digital offices in Hong Kong in June. Photo: Anthony Wallace/AFP via Getty Images

Hong Kong pro-democracy activist Jimmy Lai has been arrested for "collusion with foreign powers," said Mark Simon, an executive at the tycoon's media firm Next Digital Monday morning local time.

Why it matters: He was arrested under the new national security law that gives Beijing more powers over the former British colony. Lai is the most prominent person arrested under the law, which prompted the U.S. to sanction Chinese officials, including Hong Kong leader Carrie Lam, over Beijing's efforts to strip the territory of its autonomy.