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Saint Augustine's University in Financial Crisis | Raleigh News
Saint Augustine’s University, a historic Black institution in Raleigh, is drowning in $74 million in debt and has zero students enrolled—its cash reserves? Under $500,000. With only $10,000 a month coming in from property rentals and a $40,000 utility bill just added to the pile, the school is in full-blown financial collapse. Over 300 unsecured creditors—including former students, teachers, and staff—are waiting for repayment, while the bankruptcy administrator urges them to file claims before it’s too late. The school sits on land worth $200 million, and selling some of it may be their only…
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