Stanford, which has an endowment of nearly $28 billion, said it told the Education Department on Monday it would refuse $7.4 million allocated in the package. The school said it wanted to free the funding to be directed to smaller colleges that now face an “existential threat” because of the pandemic. Yale expressed a similar sentiment, saying it wants its $6.9 million to go to “colleges and universities in Connecticut whose continued existence is threatened by the current crisis.”