Raleigh, N.C. — Looming federal and state budget cuts at Saint Augustine's College have school officials worried students will not be able to pay for their educations.

Officials held a Labor Day Music Festival on campus Friday night in an effort to raise money to support scholarships.

“Decisions on money allocation for students has significantly impacted many of our students,” Saint Augustine President Dianne Boardley Suber said.

Students Anthony Harris and Brandon Gwaltney lost work-study jobs at the school due to the cuts.

“Now, I’m living off of my mother with an income of $30 a month. So, now I have to struggle,” Harris said.

“It really kind of inconveniences me throughout the whole semester. I don’t really have money to spend as far as to take care of myself throughout the rest of the year,” Gwaltney said.

There was a $5 charge for admission to Friday’s festival. WRAL-TV anchor Pam Saulsby was among the performers.

The school plans to make the festival an annual event.