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The Trump administration and Harvard University are reportedly close to reaching a settlement of $500 million, according to The New York Times.

"Negotiators for the White House and the university have made significant progress in their closed-door discussions over the past week, developing a framework for a settlement to end their monthslong battle," the Times reported .

The Times also reported that President Donald Trump and senior Harvard officials need to sign off on the terms of the deal, as both sides are still in discussions.

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"But under the framework coming together, Harvard would agree to spend $500 million on vocational and e

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