Saint Augustine’s University says it has cut a deal with its accreditor and locked in a new lender, moves leaders hope will finally steady the fiercely beleaguered downtown Raleigh HBCU after years of crisis.
On March 28, 2026, the university announced it has reached a settlement in the lawsuit it filed last year against its accrediting agency and has formalized a financial partnership aimed at stabilizing the campus. The announcements follow more than two years of missed paychecks, tax liens and steep enrollment declines that put the school’s accreditation and basic operations at risk. University officials framed the developments as a way to protect students and campus assets while legal and accreditation reviews continue.
According to Triangle Business Journal, the settlement resolves litigation the university brought in 2025 against the Southern Association of Colleges and Schools Commission on Colleges and is paired with news of a new financing partner. The outlet reported that the pact ends the university’s direct legal challenge and sets terms designed to shore up Saint Augustine’s finances…