After months of tense negotiations, US President Donald Trump announced Tuesday that Harvard University has agreed to pay $500 million and operate trade schools as part of a deal with the administration, Reuters reported.
“Linda is finishing up the final details,” Trump said in the Oval Office, referring to Education Secretary Linda McMahon. “And they'll be paying about US$500 million and they'll be operating trade schools. They're going to be teaching people how to do AI and lots of other things, engines, lots of things.”
Harvard has not issued a comment.
The New York Times previously reported that Harvard has expressed readiness to pay up to $500 million in order to end the standoff.
The Trump administration has taken several steps against Harvard University in the wake of its failure to handle growing antisemitism on campus, including a freeze of more than $2 billion in federal research funding.
In addition to the funding cuts, Trump has also advocated for revoking the university's tax-exempt status.
A $500 million settlement would represent the largest such payment so far, as the administration presses elite universities for financial accountability. Columbia University previously agreed to pay $200 million under similar circumstances, while Brown University reached a $50 million settlement.