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The Trump Administration blocked Harvard University from enrolling international students, delivering a major blow to the school and escalating its fight with elite colleges to unprecedented levels.

The US revoked Harvard’s Student and Exchange Visitor Program certification, meaning foreign students can no longer attend the university. Existing international students must transfer or lose their legal status, the Department of Homeland Security said in a statement Thursday.

“Harvard’s leadership has created an unsafe campus environment by permitting anti-American, pro-terrorist agitators to harass and physically assault individuals, including many Jewish students, and otherwise obstruct its once-venerable learning environment,” according to the statement. The blockade on international student enrollment will compound the financial pressures for Harvard. The Trump administration has frozen more than $2.6 billion of Harvard’s funding and cut off future grants in an increasingly contentious standoff over the school’s handling of alleged antisemitism on campus and government demands for more oversight.

Trump has also called for the institution to lose its tax-exempt status, a move that the Cambridge, Massachusetts-based school has cautioned would have “grave consequences for the future of higher education in America.”
Harvard responded by calling the government’s latest action unlawful.

Today's show features:

• Bloomberg Team Leader for DC Breaking News Kasia Klimashinska on US Bans Harvard From Enrolling Foreigners
• Bloomberg News Finance Reporter Max Abelson on the Bloomberg Big Take: The Trump Family’s Money-Making Machine
• Bloomberg Intelligence Consumer Finance Analyst Ben Elliott
• Drive to the Close with Kathy Jones, Chief Fixed Income Strategist, Schwab Center for Financial Research