The U.S. General Services Administration asked federal agencies to reconsider all federal contracts with Harvard.

Harvard University is holding its commencement Thursday at a pivotal moment, when its place as one of the world’s leading higher education institutions is under what increasingly seems like existential threats from the Trump administration.

Across Harvard’s schools, researchers described a wave of destruction following sweeping terminations of federally funded grants. More than $2.7 billion in cuts have come as part of the Trump administration’s targeted pressure campaign against Harvard.