That's how chapter 11 type bankruptcy works. The business continues to run but the debtors are now the owners. There's also chapter 7 where the business shuts down and stripped for parts to pay the debts.
I think the key difference is that: "going to school", sure you need a living stipend, but the actual research phase has serious WLB and working condition issues
Back before the Laravel folks utterly misguided but weirdly popular attempts at turning PHP into JavaScript gutted the Drupal community (your boos mean nothing, I've seen what makes you cheer) one of the most common outcomes of a site getting hacked was malware-infested porn sites would be uploaded to the site server. This failure mode wasn't particular to Drupal, it's just what happened when websites got hacked. This was the same period of time when the Drupal project was reporting ~16M active installs, had literally thousands of developers volunteering code to the core development project, a dedicated security team, and an automated test suite that ran around the clock.
Reality is complex and dynamic, and through all of that Harvard's endurance pre-dates the US, therefore I would expect it to endure a 4 year term of Government. Not to say with a 100% certainty, but I would expect it to with a greater degree of confidence than many other things, based on its history.
However I wouldn't extend that line of thinking to stock markets, superannuation etc.