Harvard University is close to a deal with President Donald Trump after he threatened to withdraw funding for medical research from the Ivy League school unless it met his demands.

New York Times reporter Mike Schmidt said on X that the truce would ultimately cost Harvard $500 million.

Writing on Monday, he said that the money would be earmarked for vocational and educational programs.

"That figure, currently penciled in to be paid out over years, would meet a demand from President Trump that Harvard spend more than double what Columbia University agreed last month to pay. It would also satisfy Harvard’s wish that it not pay the government directly, as Columbia is doing," said the report.

The Trump vs. Harvard negotiation has been ongoing since April, when he suggested freezing up to $2.3 billion in federal funding in response to the university rejecting a list of policy demands. Among those demands were specifics about on-campus protests and allegations of antisemitism.

Trump also wanted the school to end diversity, equity, and inclusion, or DEI, programs, adopt merit-based admissions and hiring, cooperate with immigration authorities, and accept periodic audits for “viewpoint diversity.”

Later that month, Trump floated the idea of revoking Harvard's tax-exempt status on Truth Social if his demands weren't met.

Since the incident began, the Trump administration has launched a "number of investigations into the university, including ones conducted by the Justice Department and another inquiry that the Commerce Department announced on Friday."

Trump's new deal would put an end to all of those investigations and allow Harvard to enroll thousands of international students that the administration is currently blocking.

Read the full report here.