About 24 hours after the Trump administration said it would freeze more than $2 billion in federal grants and contracts, Harvard University’s research arm began to assess the fallout.

The U.S. Department of Education on Monday froze more than $2 billion in federal funding for Harvard University, just hours after the school rejected President Donald Trump's demands that it make deep policy changes on diversity.

The battle at Harvard is the latest in the fight between the president and universities that has been threatening billions of dollars in funding at research institutions.