The bankruptcy judge acknowledged the complexity of the proceeds, especially since the university “is essentially closed.”
Photo illustration by Justin Morrison/Inside Higher Ed | zimmytws/iStock/Getty Images
Saint Augustine’s University is suspended in a zombie-like state between life and death.
In April, the embattled historically Black university in North Carolina declared bankruptcy, ending its access to federal financial aid. At the same time, officials said the university would not close. Instead SAU planned to pivot to offering online certificates and noncredit courses to continue to generate revenue as it grappled with a debt load of $74 million and a long list of creditors.
Now plans to launch those programs have been paused as Saint Augustine’s works through legal proceedings, university lawyer Ciara Rogers said in a bankruptcy court Thursday. She added that SAU has dissolved its partnership with third-party online education vendor Ed2Go.
