By Nate Raymond

BOSTON (Reuters) -The Trump administration escalated its campaign against Harvard University on Friday by placing new restrictions on the Ivy League school’s ability to access federal funds for student aid, citing concerns about the “financial position” of the oldest and richest university in the United States.

The U.S. Department of Education said it had placed Harvard on “heightened cash monitoring” status, which means the Cambridge, Massachusetts-based university will need to use its own funds to disburse federal student aid before drawing down funds from the department.

It is also seeking to have Harvard post a letter of credit for $36 million to ensure its financial obligations are met.

The Education Department in a separate letter to Harvard warned that its Office

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